Rocky Brands (RCKY) Lowered to “Buy” at ValuEngine
ValuEngine cut shares of Rocky Brands (NASDAQ:RCKY) from a strong-buy rating to a buy rating in a report issued on Friday morning.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Rocky Brands from a hold rating to a strong-buy rating and set a $17.00 price target on the stock in a report on Friday, October 27th. Robert W. Baird reiterated a hold rating and issued a $13.00 price target on shares of Rocky Brands in a report on Sunday, September 3rd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $15.00.
Shares of Rocky Brands (NASDAQ:RCKY) traded down $0.10 during trading hours on Friday, reaching $17.60. The company’s stock had a trading volume of 40,946 shares, compared to its average volume of 47,318. The company has a market capitalization of $130.88, a price-to-earnings ratio of 18.25 and a beta of 0.71. The company has a current ratio of 4.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. Rocky Brands has a 1-year low of $10.25 and a 1-year high of $20.15.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.50%. Rocky Brands’s dividend payout ratio is presently 72.13%.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Rocky Brands by 0.6% in the second quarter. Vanguard Group Inc. now owns 299,488 shares of the textile maker’s stock valued at $4,029,000 after purchasing an additional 1,679 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Rocky Brands by 36.9% in the second quarter. Acadian Asset Management LLC now owns 211,819 shares of the textile maker’s stock valued at $2,848,000 after purchasing an additional 57,118 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Rocky Brands by 17.2% in the second quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock valued at $2,690,000 after purchasing an additional 29,400 shares in the last quarter. Numeric Investors LLC lifted its holdings in shares of Rocky Brands by 139.3% in the second quarter. Numeric Investors LLC now owns 199,040 shares of the textile maker’s stock valued at $2,677,000 after purchasing an additional 115,868 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Rocky Brands by 145.3% in the second quarter. Algert Global LLC now owns 147,133 shares of the textile maker’s stock valued at $1,979,000 after purchasing an additional 87,143 shares in the last quarter. Institutional investors own 56.00% of the company’s stock.
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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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