Rocky Brands, Inc. (RCKY) Given Hold Rating at Robert W. Baird
Robert W. Baird reissued their hold rating on shares of Rocky Brands, Inc. (NASDAQ:RCKY) in a research note published on Sunday morning. Robert W. Baird currently has a $13.00 price objective on the textile maker’s stock.
Other research analysts also recently issued reports about the company. TheStreet raised Rocky Brands from a c rating to a b- rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Rocky Brands from a strong-buy rating to a hold rating in a research note on Thursday, June 22nd. Finally, ValuEngine raised Rocky Brands from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $14.00.
Shares of Rocky Brands (NASDAQ RCKY) traded up 1.94% during midday trading on Friday, reaching $13.15. 25,770 shares of the company’s stock were exchanged. The stock has a market cap of $97.91 million, a P/E ratio of 35.44 and a beta of 0.58. The company’s 50-day moving average is $13.50 and its 200-day moving average is $12.84. Rocky Brands has a one year low of $9.95 and a one year high of $15.70.
Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.18. The business had revenue of $58.46 million during the quarter, compared to the consensus estimate of $61.70 million. Rocky Brands had a return on equity of 4.02% and a net margin of 1.06%. Equities analysts expect that Rocky Brands will post $0.90 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Tuesday, August 29th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, August 25th. Rocky Brands’s dividend payout ratio is currently 118.92%.
In other news, Director Robert Burton Jr. Moore acquired 5,000 shares of Rocky Brands stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $13.80 per share, with a total value of $69,000.00. Following the purchase, the director now owns 13,619 shares in the company, valued at $187,942.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC purchased a new stake in Rocky Brands in the 2nd quarter valued at $355,000. Pacific Ridge Capital Partners LLC grew its holdings in Rocky Brands by 11.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 175,568 shares of the textile maker’s stock valued at $2,028,000 after buying an additional 18,706 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Rocky Brands by 1.6% in the 2nd quarter. North Star Investment Management Corp. now owns 316,524 shares of the textile maker’s stock valued at $4,257,000 after buying an additional 5,000 shares in the last quarter. Algert Global LLC grew its holdings in Rocky Brands by 136.0% in the 1st quarter. Algert Global LLC now owns 59,990 shares of the textile maker’s stock valued at $693,000 after buying an additional 34,567 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in Rocky Brands by 14.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 18,325 shares of the textile maker’s stock valued at $212,000 after buying an additional 2,300 shares in the last quarter. 56.93% of the stock is owned by hedge funds and other institutional investors.
About Rocky Brands
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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