Rocky Brands (NASDAQ:RCKY) Upgraded by Wall Street Zen to Strong-Buy Rating

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

RCKY has been the subject of several other reports. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. Finally, Robert W. Baird set a $42.00 price target on Rocky Brands in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Trading Down 1.0%

RCKY stock opened at $33.19 on Friday. Rocky Brands has a one year low of $11.93 and a one year high of $34.36. The stock has a market cap of $248.59 million, a price-to-earnings ratio of 12.11 and a beta of 2.67. The company has a fifty day moving average price of $30.43 and a two-hundred day moving average price of $28.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $122.54 million for the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%.

Insider Activity at Rocky Brands

In other news, insider Curtis A. Loveland sold 2,162 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $32.39, for a total transaction of $70,027.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Byron Wortham sold 6,600 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total value of $197,340.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,156 shares of company stock valued at $643,824. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently bought and sold shares of RCKY. Aristides Capital LLC raised its position in Rocky Brands by 52.6% during the second quarter. Aristides Capital LLC now owns 29,943 shares of the textile maker’s stock valued at $664,000 after purchasing an additional 10,317 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Rocky Brands in the 3rd quarter valued at $1,772,000. Russell Investments Group Ltd. raised its holdings in shares of Rocky Brands by 686.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock worth $1,898,000 after buying an additional 74,668 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rocky Brands during the 2nd quarter worth $323,000. Finally, Yarger Wealth Strategies LLC lifted its position in shares of Rocky Brands by 9.8% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock worth $287,000 after buying an additional 1,150 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

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.