Headlines about Rocky Brands (NASDAQ:RCKY) have been trending somewhat positive on Friday, Accern Sentiment reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Rocky Brands earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the textile maker an impact score of 45.439804932719 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Several brokerages have recently weighed in on RCKY. ValuEngine upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Robert W. Baird restated a “hold” rating and issued a $19.00 price objective on shares of Rocky Brands in a report on Friday, February 23rd. Finally, Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $18.33.
Shares of NASDAQ RCKY traded up $0.15 during mid-day trading on Friday, hitting $21.50. The company had a trading volume of 33,301 shares, compared to its average volume of 38,664. The stock has a market capitalization of $159.33, a price-to-earnings ratio of 18.66 and a beta of 0.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.95 and a quick ratio of 2.68. Rocky Brands has a one year low of $10.75 and a one year high of $22.80.
Rocky Brands declared that its board has approved a share repurchase program on Monday, March 5th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
In related news, Director James L. Stewart sold 2,000 shares of Rocky Brands stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the completion of the transaction, the director now owns 27,663 shares in the company, valued at $497,934. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.
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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 and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military. In its wholesale segment, the Company distributes its products through a range of distribution channels representing over 10,000 retail store locations in the United States and Canada, as well as in other international markets.
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