Zacks Investment Research upgraded shares of Rocky Brands, Inc. (NASDAQ:RCKY) from a hold rating to a buy rating in a research note issued to investors on Friday. The firm currently has $16.00 price target on the textile maker’s stock.

According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “

RCKY has been the subject of a number of other research reports. B. Riley restated a neutral rating and set a $13.00 price objective on shares of Rocky Brands in a report on Monday, April 24th. TheStreet upgraded Rocky Brands from a c rating to a b- rating in a report on Tuesday, July 25th.

Rocky Brands (NASDAQ RCKY) opened at 13.95 on Friday. The company has a market cap of $103.80 million, a P/E ratio of 37.60 and a beta of 0.56. The company’s 50 day moving average price is $13.20 and its 200-day moving average price is $12.57. Rocky Brands has a one year low of $9.95 and a one year high of $15.70.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, July 25th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.18. Rocky Brands had a return on equity of 4.03% and a net margin of 1.06%. The company had revenue of $58.46 million during the quarter, compared to analysts’ expectations of $61.70 million. On average, analysts forecast that Rocky Brands will post $0.90 EPS for the current fiscal year.

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In other Rocky Brands news, Director Robert Burton Jr. Moore acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average price of $13.65 per share, for a total transaction of $68,250.00. Following the acquisition, the director now directly owns 8,099 shares in the company, valued at $110,551.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Algert Global LLC boosted its stake in shares of Rocky Brands by 145.3% in the second quarter. Algert Global LLC now owns 147,133 shares of the textile maker’s stock valued at $1,979,000 after buying an additional 87,143 shares in the last quarter. Marquette Asset Management Inc. boosted its stake in shares of Rocky Brands by 9.5% in the second quarter. Marquette Asset Management Inc. now owns 16,555 shares of the textile maker’s stock valued at $223,000 after buying an additional 1,434 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Rocky Brands by 36.9% in the second quarter. Acadian Asset Management LLC now owns 211,819 shares of the textile maker’s stock valued at $2,848,000 after buying an additional 57,118 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Rocky Brands by 1.6% in the second quarter. North Star Investment Management Corp. now owns 316,524 shares of the textile maker’s stock valued at $4,257,000 after buying an additional 5,000 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of Rocky Brands during the first quarter valued at $122,000. Institutional investors and hedge funds own 52.12% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.

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