Rocky Brands (NASDAQ:RCKY) Upgraded by StockNews.com to Buy

Rocky Brands (NASDAQ:RCKY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, B. Riley upped their target price on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th.

Rocky Brands Stock Up 1.7 %

Shares of Rocky Brands stock traded up $0.45 during trading on Wednesday, reaching $26.61. The stock had a trading volume of 13,453 shares, compared to its average volume of 28,325. The company has a market capitalization of $197.45 million, a price-to-earnings ratio of 18.74 and a beta of 1.97. The stock has a fifty day moving average price of $27.19 and a two-hundred day moving average price of $25.00. Rocky Brands has a 52 week low of $11.77 and a 52 week high of $32.38. The company has a current ratio of 3.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The business had revenue of $125.95 million for the quarter, compared to analyst estimates of $128.90 million. Sell-side analysts predict that Rocky Brands will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocky Brands

A number of institutional investors have recently bought and sold shares of RCKY. FMR LLC increased its position in Rocky Brands by 15.7% during the first quarter. FMR LLC now owns 1,047,631 shares of the textile maker’s stock worth $24,169,000 after buying an additional 141,969 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Rocky Brands during the first quarter worth approximately $1,499,000. Manatuck Hill Partners LLC acquired a new position in Rocky Brands during the third quarter worth approximately $588,000. BlackRock Inc. increased its position in Rocky Brands by 6.2% during the second quarter. BlackRock Inc. now owns 463,717 shares of the textile maker’s stock worth $9,738,000 after buying an additional 26,884 shares during the last quarter. Finally, Select Equity Group L.P. increased its position in Rocky Brands by 51.4% during the fourth quarter. Select Equity Group L.P. now owns 63,176 shares of the textile maker’s stock worth $1,492,000 after buying an additional 21,445 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.