Rocky Brands (NASDAQ:RCKY) Stock Rating Upgraded by Wall Street Zen

Rocky Brands (NASDAQ:RCKY) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

RCKY has been the topic of several other reports. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Robert W. Baird raised their price target on Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Rocky Brands Price Performance

NASDAQ RCKY opened at $48.62 on Friday. The firm’s fifty day simple moving average is $41.84 and its two-hundred day simple moving average is $39.50. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. Rocky Brands has a 12-month low of $25.76 and a 12-month high of $53.01. The firm has a market capitalization of $364.16 million, a P/E ratio of 12.73 and a beta of 2.35.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $1.55. The business had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director William L. Jordan sold 2,011 shares of Rocky Brands stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.48, for a total transaction of $97,493.28. Following the completion of the sale, the director owned 21,940 shares of the company’s stock, valued at approximately $1,063,651.20. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Courtney Haning sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $49.06, for a total value of $147,180.00. Following the sale, the director owned 19,750 shares in the company, valued at approximately $968,935. The trade was a 13.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,483 shares of company stock valued at $763,214 in the last quarter. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Rocky Brands

A number of large investors have recently bought and sold shares of RCKY. Deutsche Bank AG boosted its stake in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares during the last quarter. NewEdge Advisors LLC raised its position in Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after acquiring an additional 598 shares in the last quarter. First Trust Advisors LP boosted its position in Rocky Brands by 2.8% in the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after purchasing an additional 655 shares in the last quarter. Invesco Ltd. grew its stake in shares of Rocky Brands by 5.4% during the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after purchasing an additional 781 shares during the period. Finally, Aristides Capital LLC grew its stake in shares of Rocky Brands by 3.3% during the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock worth $907,000 after purchasing an additional 979 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

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.