Rocky Brands Inc (RCKY) Holdings Lifted by JPMorgan Chase & Co.
JPMorgan Chase & Co. raised its stake in shares of Rocky Brands Inc (NASDAQ:RCKY) by 68.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,793 shares of the textile maker’s stock after buying an additional 12,958 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rocky Brands were worth $416,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RCKY. Franklin Resources Inc. grew its holdings in Rocky Brands by 17.2% during the 2nd quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock valued at $2,690,000 after buying an additional 29,400 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Rocky Brands during the second quarter worth about $164,000. Nationwide Fund Advisors grew its holdings in shares of Rocky Brands by 368.4% during the second quarter. Nationwide Fund Advisors now owns 42,308 shares of the textile maker’s stock worth $569,000 after purchasing an additional 33,276 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rocky Brands by 20.8% during the second quarter. Northern Trust Corp now owns 26,996 shares of the textile maker’s stock worth $363,000 after purchasing an additional 4,643 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Rocky Brands by 0.6% during the second quarter. Vanguard Group Inc. now owns 299,488 shares of the textile maker’s stock worth $4,029,000 after purchasing an additional 1,679 shares in the last quarter. 55.93% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on RCKY shares. Robert W. Baird boosted their price objective on Rocky Brands from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Zacks Investment Research lowered Rocky Brands from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, ValuEngine lowered Rocky Brands from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Rocky Brands has an average rating of “Buy” and a consensus price target of $18.00.
Rocky Brands Inc (NASDAQ RCKY) opened at $19.10 on Thursday. Rocky Brands Inc has a twelve month low of $10.25 and a twelve month high of $20.95. The company has a current ratio of 4.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $138.65, a PE ratio of 31.31 and a beta of 0.70.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, October 24th. The textile maker reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.10. Rocky Brands had a return on equity of 5.24% and a net margin of 1.80%. research analysts forecast that Rocky Brands Inc will post 0.95 EPS for the current fiscal year.
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About Rocky Brands
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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