Rocky Brands’ (RCKY) Hold Rating Reiterated at Robert W. Baird

Rocky Brands (NASDAQ:RCKY)‘s stock had its “hold” rating reissued by research analysts at Robert W. Baird in a note issued to investors on Wednesday. They currently have a $18.00 price objective on the textile maker’s stock. Robert W. Baird’s price objective points to a potential downside of 9.09% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research report on Friday, October 27th. ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Sunday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.00.

Rocky Brands (RCKY) traded up $0.90 during midday trading on Wednesday, reaching $19.80. The company had a trading volume of 41,200 shares, compared to its average volume of 41,300. The company has a quick ratio of 1.95, a current ratio of 4.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $139.76, a P/E ratio of 32.46 and a beta of 0.70. Rocky Brands has a 1-year low of $10.25 and a 1-year high of $20.15.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new stake in shares of Rocky Brands during the 1st quarter worth approximately $122,000. Ameriprise Financial Inc. purchased a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $164,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $176,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $176,000. Finally, Nordea Investment Management AB purchased a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $203,000. 55.93% of the stock is currently owned by institutional investors and hedge funds.

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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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