Rocky Brands (NASDAQ:RCKY) Stock Rating Upgraded by Zacks Investment Research

Rocky Brands (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

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. “

Separately, ValuEngine downgraded Rocky Brands from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

NASDAQ:RCKY traded up $0.11 during trading hours on Friday, reaching $28.50. 32,476 shares of the stock were exchanged, compared to its average volume of 38,132. The company has a quick ratio of 1.99, a current ratio of 4.64 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $30.57 and a 200-day simple moving average of $28.65. Rocky Brands has a 52 week low of $22.44 and a 52 week high of $34.14. The stock has a market capitalization of $212.25 million, a P/E ratio of 15.16 and a beta of 0.52.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Wednesday, October 23rd. The textile maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Rocky Brands had a return on equity of 9.86% and a net margin of 6.09%. The company had revenue of $67.18 million for the quarter, compared to the consensus estimate of $68.20 million. As a group, analysts expect that Rocky Brands will post 2.06 earnings per share for the current year.

In related news, CEO Jason Brooks sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.01, for a total value of $124,040.00. Following the sale, the chief executive officer now owns 6,238 shares of the company’s stock, valued at approximately $193,440.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James L. Stewart sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.76, for a total value of $46,140.00. Following the completion of the sale, the director now directly owns 10,233 shares in the company, valued at approximately $314,767.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,500 shares of company stock worth $229,960. 7.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in RCKY. Meritage Portfolio Management bought a new stake in shares of Rocky Brands in the 3rd quarter worth approximately $220,000. Rhumbline Advisers lifted its holdings in shares of Rocky Brands by 10.3% in the 3rd quarter. Rhumbline Advisers now owns 10,675 shares of the textile maker’s stock worth $355,000 after purchasing an additional 1,000 shares during the last quarter. Strs Ohio lifted its holdings in shares of Rocky Brands by 7.8% in the 2nd quarter. Strs Ohio now owns 13,900 shares of the textile maker’s stock worth $379,000 after purchasing an additional 1,000 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Rocky Brands by 7.4% in the 2nd quarter. WINTON GROUP Ltd now owns 14,811 shares of the textile maker’s stock worth $404,000 after purchasing an additional 1,023 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Rocky Brands by 28.1% in the 3rd quarter. First Trust Advisors LP now owns 15,606 shares of the textile maker’s stock worth $519,000 after purchasing an additional 3,423 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

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