Rocky Brands (NASDAQ:RCKY) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other brokerages also recently commented on RCKY. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Friday, October 27th. Robert W. Baird raised their price objective on Rocky Brands from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.00.

Shares of Rocky Brands (NASDAQ RCKY) opened at $17.60 on Friday. The company has a quick ratio of 1.95, a current ratio of 4.91 and a debt-to-equity ratio of 0.08. Rocky Brands has a 52-week low of $10.25 and a 52-week high of $20.15. The company has a market capitalization of $130.30, a P/E ratio of 18.35 and a beta of 0.71.

Several institutional investors have recently bought and sold shares of RCKY. Acadian Asset Management LLC lifted its position in shares of Rocky Brands by 36.9% during the 2nd quarter. Acadian Asset Management LLC now owns 211,819 shares of the textile maker’s stock worth $2,848,000 after buying an additional 57,118 shares during the period. Algert Global LLC lifted its position in shares of Rocky Brands by 145.3% during the 2nd quarter. Algert Global LLC now owns 147,133 shares of the textile maker’s stock worth $1,979,000 after buying an additional 87,143 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Rocky Brands during the 2nd quarter worth approximately $355,000. JPMorgan Chase & Co. lifted its position in shares of Rocky Brands by 332.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,835 shares of the textile maker’s stock worth $253,000 after buying an additional 14,478 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Rocky Brands by 17.2% during the 2nd quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock worth $2,690,000 after buying an additional 29,400 shares during the period. Institutional investors and hedge funds own 56.00% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Rocky Brands (RCKY) Cut to “Buy” at ValuEngine” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2017/12/02/rocky-brands-rcky-cut-to-buy-at-valuengine.html.

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.

Receive News & Stock Ratings for Rocky Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocky Brands Inc. and related stocks with our FREE daily email newsletter.