Rocky Brands (NASDAQ:RCKY) Lifted to “Hold” at Zacks Investment Research

Rocky Brands (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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 cut Rocky Brands from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Shares of NASDAQ RCKY traded up $0.11 during mid-day trading on Friday, reaching $28.50. The company had a trading volume of 32,476 shares, compared to its average volume of 38,132. The company has a current ratio of 4.64, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock has a market cap of $212.25 million, a PE ratio of 15.16 and a beta of 0.52. The company has a 50-day moving average price of $30.57 and a two-hundred day moving average price of $28.65. Rocky Brands has a 1-year low of $22.44 and a 1-year high of $34.14.

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

In related news, Director Michael L. Finn sold 2,000 shares of Rocky Brands stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.89, for a total value of $59,780.00. Following the transaction, the director now directly owns 25,717 shares in the company, valued at approximately $768,681.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Burton Jr. Moore bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was bought at an average price of $27.80 per share, for a total transaction of $41,700.00. Following the completion of the acquisition, the director now directly owns 20,413 shares in the company, valued at $567,481.40. The disclosure for this purchase can be found here. Insiders sold a total of 7,500 shares of company stock worth $229,960 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Meritage Portfolio Management acquired a new stake in shares of Rocky Brands in the third quarter worth $220,000. Rhumbline Advisers boosted its position in shares of Rocky Brands by 10.3% in the third quarter. Rhumbline Advisers now owns 10,675 shares of the textile maker’s stock worth $355,000 after buying an additional 1,000 shares during the period. Strs Ohio boosted its position in shares of Rocky Brands by 7.8% in the second quarter. Strs Ohio now owns 13,900 shares of the textile maker’s stock worth $379,000 after buying an additional 1,000 shares during the period. WINTON GROUP Ltd boosted its position in shares of Rocky Brands by 7.4% in the second quarter. WINTON GROUP Ltd now owns 14,811 shares of the textile maker’s stock worth $404,000 after buying an additional 1,023 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Rocky Brands by 28.1% in the third quarter. First Trust Advisors LP now owns 15,606 shares of the textile maker’s stock worth $519,000 after buying an additional 3,423 shares during the period. 75.01% of the stock is owned by institutional investors and hedge funds.

Rocky Brands Company Profile

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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