Rocky Brands (NASDAQ:RCKY) Rating Lowered to Hold at StockNews.com

Rocky Brands (NASDAQ:RCKY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, Robert W. Baird dropped their target price on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday.

Rocky Brands Trading Down 26.6 %

NASDAQ:RCKY traded down $7.37 during trading hours on Thursday, hitting $20.34. The stock had a trading volume of 149,847 shares, compared to its average volume of 39,207. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 2.87. Rocky Brands has a one year low of $11.77 and a one year high of $40.14. The business’s 50 day moving average is $30.16 and its 200-day moving average is $32.33. The company has a market cap of $150.98 million, a price-to-earnings ratio of 11.24 and a beta of 2.08.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 30th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $98.26 million during the quarter. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RCKY. BNP Paribas Financial Markets lifted its position in Rocky Brands by 59.5% during the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after acquiring an additional 1,332 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Rocky Brands by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 618 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rocky Brands during the second quarter valued at about $149,000. Inspire Advisors LLC acquired a new stake in Rocky Brands during the 3rd quarter worth approximately $339,000. Finally, Yarger Wealth Strategies LLC grew its stake in shares of Rocky Brands by 7.7% in the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock worth $360,000 after purchasing an additional 692 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

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.