Rocky Brands (NASDAQ:RCKY) Rating Lowered to “Buy” at Wall Street Zen

Rocky Brands (NASDAQ:RCKY) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings downgraded Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Rocky Brands currently has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands Price Performance

Shares of NASDAQ:RCKY opened at $45.20 on Friday. The firm has a market capitalization of $338.55 million, a price-to-earnings ratio of 15.27 and a beta of 2.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88. The business’s 50 day simple moving average is $32.73 and its 200-day simple moving average is $30.42. Rocky Brands has a 12 month low of $11.93 and a 12 month high of $48.70.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.46. The firm had revenue of $139.72 million during the quarter, compared to analysts’ expectations of $134.05 million. Rocky Brands had a return on equity of 10.20% and a net margin of 4.62%.

Institutional Trading of Rocky Brands

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after purchasing an additional 2,205 shares in the last quarter. Strs Ohio acquired a new stake in shares of Rocky Brands during the 1st quarter worth about $92,000. Los Angeles Capital Management LLC purchased a new stake in shares of Rocky Brands during the second quarter worth about $323,000. Geode Capital Management LLC raised its position in shares of Rocky Brands by 0.8% in the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after buying an additional 1,303 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of Rocky Brands during the second quarter valued at approximately $260,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.