Rocky Brands (NASDAQ:RCKY) Price Target Lowered to $62.00 at BTIG Research

Rocky Brands (NASDAQ:RCKYGet Rating) had its target price decreased by BTIG Research from $73.00 to $62.00 in a report released on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the textile maker’s stock.

Separately, Robert W. Baird cut their target price on Rocky Brands from $47.00 to $32.00 in a research report on Wednesday.

Rocky Brands Stock Down 2.8 %

NASDAQ RCKY opened at $26.75 on Wednesday. The stock’s 50-day moving average price is $34.02 and its 200-day moving average price is $38.52. The company has a quick ratio of 0.75, a current ratio of 2.22 and a debt-to-equity ratio of 1.29. Rocky Brands has a 52 week low of $24.20 and a 52 week high of $56.96. The company has a market capitalization of $195.62 million, a P/E ratio of 9.73 and a beta of 0.71.

Rocky Brands (NASDAQ:RCKYGet Rating) last released its earnings results on Tuesday, August 2nd. The textile maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.44). Rocky Brands had a return on equity of 13.76% and a net margin of 3.27%. During the same period in the previous year, the firm posted $0.99 EPS. On average, equities research analysts predict that Rocky Brands will post 5.5 earnings per share for the current year.

Rocky Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 31st. Rocky Brands’s dividend payout ratio is presently 22.55%.

Hedge Funds Weigh In On Rocky Brands

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in Rocky Brands by 103.8% during the 1st quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock valued at $33,000 after buying an additional 408 shares in the last quarter. Amalgamated Bank purchased a new position in Rocky Brands during the 1st quarter valued at approximately $35,000. FinTrust Capital Advisors LLC purchased a new position in Rocky Brands during the 1st quarter valued at approximately $59,000. BNP Paribas Arbitrage SA grew its holdings in Rocky Brands by 61.2% during the 4th quarter. BNP Paribas Arbitrage SA now owns 2,864 shares of the textile maker’s stock valued at $114,000 after buying an additional 1,087 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Rocky Brands by 27.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,213 shares of the textile maker’s stock valued at $134,000 after buying an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

Rocky Brands Company Profile

(Get Rating)

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.

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