Rocky Brands Inc. (RCKY) Rating Increased to Hold at Zacks Investment Research
Rocky Brands Inc. (NASDAQ:RCKY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “
RCKY has been the subject of several other reports. B. Riley reiterated a “buy” rating and issued a $14.00 target price on shares of Rocky Brands in a research note on Wednesday, July 27th. Robert W. Baird upped their price target on Rocky Brands from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th.
Rocky Brands (NASDAQ:RCKY) opened at 10.24 on Thursday. The stock has a 50 day moving average price of $10.44 and a 200 day moving average price of $11.57. The stock has a market cap of $76.64 million, a PE ratio of 63.60 and a beta of 0.96. Rocky Brands has a 52 week low of $9.67 and a 52 week high of $16.00.
Rocky Brands (NASDAQ:RCKY) last released its earnings results on Thursday, July 28th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.47. The business earned $62.60 million during the quarter, compared to analyst estimates of $72.42 million. Rocky Brands had a net margin of 0.48% and a return on equity of 0.88%. On average, equities analysts predict that Rocky Brands will post $0.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.44 annualized dividend and a yield of 4.30%. Rocky Brands’s dividend payout ratio is presently 275.00%.
In related news, Director Glen E. Corlett bought 5,000 shares of the stock in a transaction dated Wednesday, August 31st. The stock was acquired at an average price of $10.70 per share, for a total transaction of $53,500.00. Following the completion of the purchase, the director now owns 23,692 shares in the company, valued at $253,504.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis A. Loveland bought 2,500 shares of the stock in a transaction dated Wednesday, August 24th. The stock was bought at an average price of $10.30 per share, with a total value of $25,750.00. Following the purchase, the insider now owns 80,153 shares of the company’s stock, valued at approximately $825,575.90. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in Rocky Brands by 377.8% in the second quarter. Nationwide Fund Advisors now owns 9,232 shares of the company’s stock worth $105,000 after buying an additional 7,300 shares during the period. Eagle Global Advisors LLC bought a new stake in Rocky Brands during the second quarter worth about $118,000. TFS Capital LLC bought a new stake in Rocky Brands during the second quarter worth about $135,000. Franklin Resources Inc. bought a new stake in Rocky Brands during the first quarter worth about $197,000. Finally, GSA Capital Partners LLP raised its stake in Rocky Brands by 0.4% in the second quarter. GSA Capital Partners LLP now owns 58,352 shares of the company’s stock worth $666,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 49.19% of the company’s stock.
Rocky Brands Company Profile
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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