Rocky Brands (NASDAQ:RCKY) Price Target Increased to $32.00 by Analysts at Robert W. Baird

Rocky Brands (NASDAQ:RCKY) had its price objective upped by Robert W. Baird from $28.00 to $32.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Several other research firms also recently issued reports on RCKY. StockNews.com downgraded Rocky Brands from a buy rating to a hold rating in a report on Thursday, April 25th. B. Riley boosted their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the company a neutral rating in a report on Tuesday, February 27th.

Rocky Brands Trading Up 28.4 %

Rocky Brands stock opened at $33.09 on Wednesday. The firm has a market cap of $245.53 million, a price-to-earnings ratio of 18.28 and a beta of 1.97. Rocky Brands has a 1 year low of $11.77 and a 1 year high of $35.00. The firm’s 50 day moving average price is $26.72 and its two-hundred day moving average price is $25.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 3.61.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $128.90 million. Rocky Brands had a return on equity of 8.49% and a net margin of 2.88%.

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, March 1st. Rocky Brands’s payout ratio is 34.25%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors have recently bought and sold shares of the business. Raymond James & Associates lifted its position in shares of Rocky Brands by 3.3% in the third quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock worth $7,518,000 after purchasing an additional 16,427 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Rocky Brands by 10.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock worth $2,517,000 after buying an additional 16,727 shares in the last quarter. Manatuck Hill Partners LLC purchased a new stake in Rocky Brands in the 3rd quarter worth approximately $588,000. Quadrature Capital Ltd acquired a new stake in shares of Rocky Brands during the 3rd quarter valued at $261,000. Finally, SG Americas Securities LLC purchased a new position in shares of Rocky Brands during the 4th quarter valued at $118,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.