Rocky Brands (NASDAQ:RCKY) Stock Rating Lowered by StockNews.com

Rocky Brands (NASDAQ:RCKY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Robert W. Baird reduced their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday.

Rocky Brands Price Performance

Rocky Brands stock opened at $20.47 on Thursday. The stock has a market cap of $152.48 million, a P/E ratio of 11.50 and a beta of 2.08. The company has a fifty day simple moving average of $29.76 and a 200-day simple moving average of $32.21. Rocky Brands has a 12-month low of $15.23 and a 12-month high of $40.14. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. Rocky Brands had a net margin of 2.94% and a return on equity of 7.78%. The business had revenue of $98.26 million during the quarter.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after purchasing an additional 1,332 shares during the period. Victory Capital Management Inc. increased its stake in Rocky Brands by 29.5% in the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 618 shares during the period. SG Americas Securities LLC acquired a new position in Rocky Brands in the second quarter valued at $149,000. Inspire Advisors LLC acquired a new position in Rocky Brands in the third quarter valued at $339,000. Finally, Summit Global Investments acquired a new position in Rocky Brands in the third quarter valued at $341,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.