Rocky Brands (NASDAQ:RCKY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Rocky Brands (NASDAQ:RCKY) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, Robert W. Baird cut their price objective on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

Rocky Brands Price Performance

Shares of Rocky Brands stock opened at $25.04 on Friday. Rocky Brands has a 52 week low of $19.65 and a 52 week high of $40.14. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock has a market cap of $186.55 million, a PE ratio of 14.07 and a beta of 2.10. The company’s 50-day moving average price is $23.20 and its two-hundred day moving average price is $26.99.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Wednesday, October 30th. The textile maker reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). The business had revenue of $114.55 million during the quarter. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, December 3rd. Rocky Brands’s dividend payout ratio (DPR) is currently 34.83%.

Institutional Trading of Rocky Brands

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of Rocky Brands by 21.0% in the 2nd quarter. Marshall Wace LLP now owns 29,355 shares of the textile maker’s stock valued at $1,085,000 after purchasing an additional 5,086 shares during the period. Squarepoint Ops LLC purchased a new stake in Rocky Brands in the 2nd quarter worth approximately $517,000. Inspire Advisors LLC purchased a new stake in Rocky Brands in the 3rd quarter worth approximately $339,000. Summit Global Investments acquired a new stake in shares of Rocky Brands during the 3rd quarter valued at $341,000. Finally, Empowered Funds LLC grew its holdings in shares of Rocky Brands by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 30,994 shares of the textile maker’s stock valued at $987,000 after acquiring an additional 1,474 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

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.