Rocky Brands, Inc. (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday, October 27th. The firm currently has a $17.00 price objective on the textile maker’s stock. Zacks Investment Research‘s target price suggests a potential downside of 6.08% from the stock’s current price.
According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “
Other analysts also recently issued research reports about the company. TheStreet upgraded Rocky Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Robert W. Baird increased their target price on Rocky Brands from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, ValuEngine raised Rocky Brands from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $15.00.
Shares of Rocky Brands (NASDAQ:RCKY) traded up $0.25 during trading on Friday, hitting $18.10. The stock had a trading volume of 23,400 shares, compared to its average volume of 32,958. The company has a quick ratio of 1.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.08. Rocky Brands has a 12 month low of $10.25 and a 12 month high of $20.10. The firm has a market capitalization of $131.99, a price-to-earnings ratio of 18.40 and a beta of 0.71.
TRADEMARK VIOLATION NOTICE: “Rocky Brands, Inc. (RCKY) Stock Rating Upgraded by Zacks Investment Research” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and reposted in violation of US & international copyright law. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/11/rocky-brands-inc-rcky-raised-to-strong-buy-at-zacks-investment-research.html.
In related news, Director Robert Burton Jr. Moore purchased 5,000 shares of Rocky Brands stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $13.80 per share, for a total transaction of $69,000.00. Following the transaction, the director now directly owns 13,619 shares of the company’s stock, valued at $187,942.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new stake in shares of Rocky Brands in the 1st quarter valued at about $122,000. North Star Investment Management Corp. raised its stake in shares of Rocky Brands by 1.6% in the 2nd quarter. North Star Investment Management Corp. now owns 316,524 shares of the textile maker’s stock valued at $4,257,000 after purchasing an additional 5,000 shares during the period. Acadian Asset Management LLC raised its stake in shares of Rocky Brands by 36.9% in the 2nd quarter. Acadian Asset Management LLC now owns 211,819 shares of the textile maker’s stock valued at $2,848,000 after purchasing an additional 57,118 shares during the period. Marquette Asset Management Inc. raised its stake in shares of Rocky Brands by 9.5% in the 2nd quarter. Marquette Asset Management Inc. now owns 16,555 shares of the textile maker’s stock valued at $223,000 after purchasing an additional 1,434 shares during the period. Finally, Algert Global LLC raised its stake in shares of Rocky Brands by 145.3% in the 2nd quarter. Algert Global LLC now owns 147,133 shares of the textile maker’s stock valued at $1,979,000 after purchasing an additional 87,143 shares during the period. 57.20% of the stock is currently owned by institutional investors and hedge funds.
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, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
Get a free copy of the Zacks research report on Rocky Brands (RCKY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rocky Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocky Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.