StockNews.com Downgrades Rocky Brands (NASDAQ:RCKY) to Hold

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

Separately, B. Riley boosted their price target on shares of 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 Down 0.3 %

Rocky Brands stock opened at $26.49 on Thursday. Rocky Brands has a fifty-two week low of $11.77 and a fifty-two week high of $32.38. The stock has a market cap of $196.56 million, a PE ratio of 18.65 and a beta of 1.97. The firm’s 50-day simple moving average is $26.91 and its 200 day simple moving average is $25.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 3.61.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Rocky Brands by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,436 shares of the textile maker’s stock valued at $2,888,000 after acquiring an additional 16,852 shares during the last quarter. Aristides Capital LLC boosted its stake in Rocky Brands by 3.5% in the fourth quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock valued at $1,287,000 after acquiring an additional 1,441 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after buying an additional 826 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Rocky Brands during the 4th quarter valued at approximately $555,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Rocky Brands during the 4th quarter valued at approximately $508,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

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.