Rocky Brands (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, January 4th. The brokerage currently has a $23.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.86% 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. “
Several other brokerages also recently issued reports on RCKY. Robert W. Baird upped their price objective on Rocky Brands from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Rocky Brands from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two research 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.00.
Shares of Rocky Brands (RCKY) traded down $0.50 during trading hours on Thursday, hitting $19.35. The stock had a trading volume of 24,900 shares, compared to its average volume of 41,678. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.91 and a quick ratio of 1.95. Rocky Brands has a twelve month low of $10.25 and a twelve month high of $20.95. The stock has a market capitalization of $143.08, a P/E ratio of 31.72 and a beta of 0.70.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, October 24th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.10. Rocky Brands had a return on equity of 5.24% and a net margin of 1.80%. sell-side analysts forecast that Rocky Brands will post 0.95 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Rocky Brands by 0.6% in the second quarter. Vanguard Group Inc. now owns 299,488 shares of the textile maker’s stock valued at $4,029,000 after purchasing an additional 1,679 shares during the last quarter. Northern Trust Corp increased its stake in Rocky Brands by 20.8% in the second quarter. Northern Trust Corp now owns 26,996 shares of the textile maker’s stock valued at $363,000 after purchasing an additional 4,643 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Rocky Brands in the second quarter valued at $164,000. JPMorgan Chase & Co. increased its stake in Rocky Brands by 68.8% in the third quarter. JPMorgan Chase & Co. now owns 31,793 shares of the textile maker’s stock valued at $416,000 after purchasing an additional 12,958 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Rocky Brands in the second quarter valued at $176,000. Hedge funds and other institutional investors own 55.93% of the company’s stock.
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Rocky Brands Company Profile
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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