Rocky Brands Inc (NASDAQ:RCKY) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Analysts have set a 1 year consensus price objective of $30.00 for the company and are anticipating that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 96 out of 255 based on the ratings given to its competitors.
A number of equities research analysts recently issued reports on RCKY shares. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Friday, August 3rd. ValuEngine cut Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 28th.
Shares of NASDAQ RCKY traded down $0.09 during mid-day trading on Friday, reaching $25.84. 431 shares of the company’s stock were exchanged, compared to its average volume of 70,489. The stock has a market capitalization of $209.76 million, a price-to-earnings ratio of 22.17 and a beta of 0.15. Rocky Brands has a 52 week low of $13.90 and a 52 week high of $33.45.
Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 31st. The textile maker reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.14. The company had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $55.40 million. Rocky Brands had a return on equity of 8.12% and a net margin of 4.99%. Equities research analysts forecast that Rocky Brands will post 1.7 earnings per share for the current fiscal year.
In related news, Chairman Mike Brooks sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $30.61, for a total value of $39,793.00. Following the sale, the chairman now directly owns 310,172 shares in the company, valued at approximately $9,494,364.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Brooks sold 9,488 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $30.55, for a total value of $289,858.40. Following the completion of the sale, the insider now owns 4,709 shares in the company, valued at $143,859.95. The disclosure for this sale can be found here. Insiders sold a total of 18,788 shares of company stock worth $573,051 over the last 90 days. 9.40% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Rocky Brands by 145.1% during the 2nd quarter. BlackRock Inc. now owns 612,546 shares of the textile maker’s stock valued at $18,376,000 after buying an additional 362,612 shares in the last quarter. Northern Trust Corp grew its holdings in Rocky Brands by 202.7% during the 2nd quarter. Northern Trust Corp now owns 84,337 shares of the textile maker’s stock valued at $2,530,000 after buying an additional 56,473 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Rocky Brands during the 2nd quarter valued at about $1,500,000. EAM Global Investors LLC purchased a new position in Rocky Brands during the 2nd quarter valued at about $1,266,000. Finally, EAM Investors LLC grew its holdings in Rocky Brands by 92.4% during the 2nd quarter. EAM Investors LLC now owns 68,208 shares of the textile maker’s stock valued at $2,046,000 after buying an additional 32,754 shares in the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.
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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