Rocky Brands (RCKY) Raised to Buy at ValuEngine

Rocky Brands (NASDAQ:RCKY) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday, February 2nd.

A number of other research firms also recently weighed in on RCKY. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of Rocky Brands in a research report on Wednesday, January 3rd. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.00.

Rocky Brands (NASDAQ RCKY) opened at $15.95 on Friday. Rocky Brands has a 12-month low of $10.25 and a 12-month high of $20.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.91 and a quick ratio of 1.95. The stock has a market capitalization of $117.94, a P/E ratio of 16.44 and a beta of 0.53.

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new position in Rocky Brands during the 2nd quarter worth $164,000. Raymond James Financial Services Advisors Inc. bought a new position in Rocky Brands during the 2nd quarter worth $176,000. Arrowstreet Capital Limited Partnership bought a new position in Rocky Brands during the 2nd quarter worth $176,000. Nordea Investment Management AB bought a new position in Rocky Brands during the 2nd quarter worth $203,000. Finally, OxFORD Asset Management LLP bought a new position in Rocky Brands during the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 58.97% of the company’s stock.

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About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military. In its wholesale segment, the Company distributes its products through a range of distribution channels representing over 10,000 retail store locations in the United States and Canada, as well as in other international markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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