Rocky Brands, Inc. (RCKY) Stock Rating Upgraded by Zacks Investment Research

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.

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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.

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