Robert W. Baird Cuts Rocky Brands (NASDAQ:RCKY) Price Target to $25.00

Rocky Brands (NASDAQ:RCKY) had its price target reduced by Robert W. Baird from $32.00 to $25.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

Rocky Brands Trading Up 0.6 %

Shares of RCKY opened at $20.47 on Thursday. The stock has a 50 day simple moving average of $29.76 and a 200-day simple moving average of $32.21. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market cap of $152.50 million, a PE ratio of 11.50 and a beta of 2.14. Rocky Brands has a 1 year low of $15.23 and a 1 year high of $40.14.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.155 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.62 annualized dividend and a dividend yield of 3.03%. Rocky Brands’s dividend payout ratio is presently 34.83%.

Institutional Investors Weigh In On Rocky Brands

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake 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 buying an additional 1,332 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Rocky Brands in the 1st quarter worth approximately $517,000. O Shaughnessy Asset Management LLC grew its position in Rocky Brands by 39.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,518 shares of the textile maker’s stock worth $638,000 after acquiring an additional 6,646 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Rocky Brands during the 2nd quarter valued at $149,000. Finally, Bank of New York Mellon Corp increased its holdings in Rocky Brands by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after purchasing an additional 2,962 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.