Rocky Brands (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm currently has a $23.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.38% 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 research firms have also recently weighed in on RCKY. Robert W. Baird reiterated a “hold” rating and issued a $18.00 target price on shares of Rocky Brands in a research note on Wednesday. ValuEngine upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.00.

Rocky Brands (RCKY) traded up $1.25 on Thursday, hitting $20.65. The stock had a trading volume of 76,529 shares, compared to its average volume of 26,797. The stock has a market capitalization of $152.70, a price-to-earnings ratio of 21.29 and a beta of 0.70. Rocky Brands has a one year low of $10.25 and a one year high of $20.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.91 and a quick ratio of 1.95.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 1,679 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Rocky Brands by 17.2% during the 2nd quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock worth $2,690,000 after buying an additional 29,400 shares during the period. Numeric Investors LLC raised its stake in shares of Rocky Brands by 139.3% during the 2nd quarter. Numeric Investors LLC now owns 199,040 shares of the textile maker’s stock worth $2,677,000 after buying an additional 115,868 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Rocky Brands by 24.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 69,978 shares of the textile maker’s stock worth $938,000 after buying an additional 13,580 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Rocky Brands by 368.4% during the 2nd quarter. Nationwide Fund Advisors now owns 42,308 shares of the textile maker’s stock worth $569,000 after buying an additional 33,276 shares during the period. Hedge funds and other institutional investors own 55.93% of the company’s stock.

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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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