Rocky Brands (NASDAQ:RCKY) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.

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

Rocky Brands Stock Down 1.0%

Shares of NASDAQ RCKY opened at $33.19 on Friday. The company has a market capitalization of $248.59 million, a price-to-earnings ratio of 12.11 and a beta of 2.67. 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 has a 50-day moving average of $30.43 and a two-hundred day moving average of $28.75. Rocky Brands has a 1 year low of $11.93 and a 1 year high of $34.36.

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

Rocky Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.155 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.62 annualized dividend and a yield of 1.9%. Rocky Brands’s dividend payout ratio is 22.63%.

Insider Buying and Selling at Rocky Brands

In other news, insider Curtis A. Loveland sold 4,775 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $32.43, for a total transaction of $154,853.25. Following the completion of the sale, the insider owned 95,454 shares in the company, valued at approximately $3,095,573.22. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Byron Wortham sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total value of $197,340.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,156 shares of company stock worth $643,824 over the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Rocky Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Rocky Brands in the 4th quarter valued at approximately $35,000. Strs Ohio acquired a new stake in shares of Rocky Brands during the first quarter worth $92,000. BNP Paribas Financial Markets grew its position in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after buying an additional 2,903 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Rocky Brands in the 2nd quarter valued at $155,000. Finally, Metis Global Partners LLC purchased a new position in Rocky Brands during the 3rd quarter worth $208,000. 75.06% of the stock is owned by institutional investors and hedge funds.

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.