Wall Street Zen Upgrades Rocky Brands (NASDAQ:RCKY) to “Buy”

Rocky Brands (NASDAQ:RCKY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research firms have also weighed in on RCKY. Robert W. Baird lifted their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

Rocky Brands Price Performance

Rocky Brands stock opened at $48.84 on Friday. The stock has a 50 day moving average of $40.41 and a two-hundred day moving average of $38.76. Rocky Brands has a twelve month low of $24.67 and a twelve month high of $50.73. The stock has a market capitalization of $368.25 million, a price-to-earnings ratio of 12.79 and a beta of 2.35. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.The business had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million.

Institutional Trading of Rocky Brands

Several hedge funds have recently modified their holdings of RCKY. State of Alaska Department of Revenue acquired a new position in Rocky Brands during the fourth quarter worth $35,000. Strs Ohio acquired a new stake in Rocky Brands in the first quarter valued at $92,000. BNP Paribas Financial Markets lifted its holdings in Rocky Brands by 391.2% in the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Rocky Brands during the 1st quarter worth $149,000. Finally, Deutsche Bank AG boosted its position in shares of Rocky Brands by 10.0% during the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares in the last quarter. 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.