Rocky Brands (NASDAQ:RCKY) Downgraded by StockNews.com

Rocky Brands (NASDAQ:RCKY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Separately, B. Riley upped their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.

Rocky Brands Price Performance

Shares of NASDAQ:RCKY opened at $26.49 on Thursday. The firm has a market cap of $196.56 million, a price-to-earnings ratio of 18.65 and a beta of 1.97. The firm has a fifty day moving average price of $26.91 and a 200 day moving average price of $25.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 3.61. Rocky Brands has a fifty-two week low of $11.77 and a fifty-two week high of $32.38.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a net margin of 2.26% and a return on equity of 6.70%. As a group, sell-side analysts expect that Rocky Brands will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates raised its stake in shares of Rocky Brands by 3.3% in the third quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock valued at $7,518,000 after acquiring an additional 16,427 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Rocky Brands by 10.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after acquiring an additional 16,727 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Rocky Brands by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,436 shares of the textile maker’s stock valued at $2,888,000 after acquiring an additional 16,852 shares during the period. Aristides Capital LLC raised its stake in shares of Rocky Brands by 3.5% in the fourth quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock valued at $1,287,000 after acquiring an additional 1,441 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Rocky Brands in the third quarter valued at $588,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.