Rocky Brands Inc. (NASDAQ:RCKY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other analysts also recently issued reports on RCKY. B. Riley reaffirmed a “buy” rating and set a $12.00 price target on shares of Rocky Brands in a report on Monday, August 1st. Robert W. Baird raised their price target on shares of Rocky Brands from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 18th.

Shares of Rocky Brands (NASDAQ:RCKY) opened at 10.15 on Wednesday. The company’s 50-day moving average is $10.41 and its 200-day moving average is $11.32. The company has a market cap of $75.96 million, a price-to-earnings ratio of 63.04 and a beta of 0.87. Rocky Brands has a 12-month low of $9.67 and a 12-month high of $15.15.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.47. The company had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $72.42 million. Rocky Brands had a net margin of 0.48% and a return on equity of 0.88%. Equities research analysts predict that Rocky Brands will post $0.24 earnings per share for the current year.

In other Rocky Brands news, Director Glen E. Corlett acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were bought at an average price of $10.70 per share, with a total value of $53,500.00. Following the completion of the acquisition, the director now owns 23,692 shares in the company, valued at approximately $253,504.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis A. Loveland acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $25,750.00. Following the acquisition, 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. 8.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of RCKY. Nationwide Fund Advisors increased its position 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 last quarter. Eagle Global Advisors LLC acquired a new position in Rocky Brands during the second quarter worth about $118,000. TFS Capital LLC acquired a new position in Rocky Brands during the second quarter worth about $135,000. Franklin Resources Inc. acquired a new position in Rocky Brands during the first quarter worth about $197,000. Finally, GSA Capital Partners LLP increased its position 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 last quarter. 49.19% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:RCKY

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