Rocky Brands (NASDAQ:RCKY) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a report released on Thursday.

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

Rocky Brands Trading Up 3.2 %

RCKY traded up $0.66 during trading on Thursday, reaching $21.00. 27,950 shares of the company’s stock were exchanged, compared to its average volume of 39,154. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Rocky Brands has a one year low of $15.23 and a one year high of $40.14. The firm has a fifty day moving average price of $30.16 and a two-hundred day moving average price of $32.33. The stock has a market capitalization of $156.43 million, a PE ratio of 11.43 and a beta of 2.08.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.17 earnings per share for the quarter, beating 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 7.78% and a net margin of 2.94%.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.155 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.62 annualized dividend and a yield of 2.95%. Rocky Brands’s payout ratio is 34.83%.

Institutional Trading of Rocky Brands

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of Rocky Brands by 59.5% during the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after buying an additional 1,332 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Rocky Brands by 29.5% during the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after acquiring an additional 618 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Rocky Brands in the second quarter worth $149,000. Inspire Advisors LLC bought a new stake in Rocky Brands in the third quarter valued at $339,000. Finally, Summit Global Investments acquired a new position in shares of Rocky Brands during the third quarter valued at about $341,000. 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 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.