Rocky Brands (NASDAQ:RCKY – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Separately, B. Riley lifted their target price on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.
View Our Latest Analysis on RCKY
Rocky Brands Price Performance
Rocky Brands (NASDAQ:RCKY – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The firm had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $128.90 million. As a group, sell-side analysts anticipate that Rocky Brands will post 1.96 EPS for the current fiscal year.
Institutional Investors Weigh In On Rocky Brands
Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Rocky Brands by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,436 shares of the textile maker’s stock valued at $2,888,000 after buying an additional 16,852 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocky Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 392,245 shares of the textile maker’s stock valued at $11,838,000 after buying an additional 2,488 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Rocky Brands in the 4th quarter valued at approximately $598,000. Barclays PLC grew its stake in shares of Rocky Brands by 669.7% in the 4th quarter. Barclays PLC now owns 9,567 shares of the textile maker’s stock valued at $289,000 after buying an additional 8,324 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Rocky Brands by 37.7% in the 4th quarter. Nuveen Asset Management LLC now owns 18,825 shares of the textile maker’s stock valued at $568,000 after buying an additional 5,151 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.
About Rocky Brands
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.
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