Rocky Brands (NASDAQ:RCKY) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings cut shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.00.

Rocky Brands Stock Up 3.0%

Shares of NASDAQ:RCKY opened at $37.38 on Friday. The company has a current ratio of 2.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $41.60 and a two-hundred day simple moving average of $34.61. Rocky Brands has a 12-month low of $19.82 and a 12-month high of $48.70. The stock has a market capitalization of $281.85 million, a price-to-earnings ratio of 15.13 and a beta of 2.39.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $124.40 million during the quarter, compared to analysts’ expectations of $122.42 million. Rocky Brands had a return on equity of 8.49% and a net margin of 3.78%.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 2nd. Rocky Brands’s payout ratio is 25.10%.

Hedge Funds Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently modified their holdings of RCKY. Raymond James Financial Inc. boosted its stake in shares of Rocky Brands by 24.3% in the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. LSV Asset Management lifted its holdings in Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock valued at $4,293,000 after acquiring an additional 90,103 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Rocky Brands by 48.9% in the third quarter. Hillsdale Investment Management Inc. now owns 183,592 shares of the textile maker’s stock valued at $5,469,000 after acquiring an additional 60,330 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Rocky Brands in the third quarter worth about $1,240,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Rocky Brands during the 4th quarter valued at about $1,148,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.