Rocky Brands (NASDAQ:RCKY) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a report published on Thursday.

Separately, B. Riley boosted their price target 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 Price Performance

Rocky Brands stock opened at $26.49 on Thursday. 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 has a 52 week low of $11.77 and a 52 week high of $32.38. The stock has a market capitalization of $196.56 million, a P/E ratio of 18.65 and a beta of 1.97. The stock has a fifty day moving average of $26.86 and a 200-day moving average of $25.72.

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

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.155 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a yield of 2.34%. Rocky Brands’s payout ratio is presently 43.66%.

Hedge Funds Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Rocky Brands by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,436 shares of the textile maker’s stock worth $2,888,000 after purchasing an additional 16,852 shares in the last quarter. Aristides Capital LLC increased its holdings in Rocky Brands by 3.5% in the 4th quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock worth $1,287,000 after purchasing an additional 1,441 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Rocky Brands by 94.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after purchasing an additional 826 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Rocky Brands in the fourth quarter valued at about $555,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Rocky Brands in the fourth quarter valued at about $508,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Rocky Brands

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.