Wall Street Zen Downgrades Rocky Brands (NASDAQ:RCKY) to Hold

Rocky Brands (NASDAQ:RCKY) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings downgraded Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY opened at $37.38 on Friday. The company has a quick ratio of 0.93, a current ratio of 2.82 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $41.60 and a two-hundred day simple moving average of $34.61. The firm has a market cap of $281.85 million, a PE ratio of 15.13 and a beta of 2.39. Rocky Brands has a twelve month low of $19.82 and a twelve month high of $48.70.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.49%. The company had revenue of $124.40 million during the quarter, compared to analysts’ expectations of $122.42 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RCKY. Deutsche Bank AG grew its stake in Rocky Brands by 10.0% during the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares during the last quarter. NewEdge Advisors LLC grew its stake in Rocky Brands by 5.4% during the 4th quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after buying an additional 598 shares during the last quarter. First Trust Advisors LP grew its stake in Rocky Brands by 2.8% during the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after buying an additional 655 shares during the last quarter. Invesco Ltd. grew its stake in Rocky Brands by 5.4% during the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after buying an additional 781 shares during the last quarter. Finally, Aristides Capital LLC grew its stake in Rocky Brands by 3.3% during the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock worth $907,000 after buying an additional 979 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.