Rocky Brands (NASDAQ:RCKY) Upgraded by StockNews.com to “Buy”

Rocky Brands (NASDAQ:RCKY) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, B. Riley boosted their price target on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th.

Rocky Brands Price Performance

NASDAQ:RCKY traded up $2.04 on Thursday, hitting $27.13. The company had a trading volume of 61,261 shares, compared to its average volume of 30,385. Rocky Brands has a 52 week low of $11.77 and a 52 week high of $32.38. The company has a current ratio of 3.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $201.30 million, a price-to-earnings ratio of 19.11 and a beta of 1.96. The firm has a 50 day moving average of $27.47 and a two-hundred day moving average of $23.84.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $125.95 million during the quarter, compared to analysts’ expectations of $128.90 million. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. On average, research analysts anticipate that Rocky Brands will post 1.96 earnings per share for the current year.

Institutional Trading of Rocky Brands

A number of institutional investors and hedge funds have recently bought and sold shares of RCKY. Quantbot Technologies LP increased its stake in shares of Rocky Brands by 103.8% in the first quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock valued at $33,000 after buying an additional 408 shares during the period. Barclays PLC boosted its holdings in Rocky Brands by 485.4% in the fourth quarter. Barclays PLC now owns 1,850 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 1,534 shares during the last quarter. Citigroup Inc. increased its position in Rocky Brands by 8,929.2% during the 2nd quarter. Citigroup Inc. now owns 2,167 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 2,143 shares during the period. Tower Research Capital LLC TRC raised its holdings in Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after purchasing an additional 826 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Rocky Brands by 538.8% in the 4th quarter. UBS Group AG now owns 2,555 shares of the textile maker’s stock worth $60,000 after purchasing an additional 2,155 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, Ranger, and Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.