Robert W. Baird Downgrades Rocky Brands (NASDAQ:RCKY) to Hold

by · The Cerbat Gem

Rocky Brands (NASDAQ:RCKY – Get Free Report) was downgraded by analysts at Robert W. Baird from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other equities analysts also recently issued reports on the company. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.00.

Get Our Latest Stock Analysis on RCKY

Rocky Brands Stock Down 1.9%

RCKY stock opened at $43.36 on Monday. The stock has a market cap of $324.77 million, a PE ratio of 11.35 and a beta of 2.36. The firm’s 50-day simple moving average is $44.57 and its 200 day simple moving average is $41.65. Rocky Brands has a fifty-two week low of $26.29 and a fifty-two week high of $53.01. The company has a quick ratio of 1.12, a current ratio of 2.97 and a debt-to-equity ratio of 0.43.

Rocky Brands (NASDAQ:RCKY – Get Free Report) last posted its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The firm had revenue of $118.37 million during the quarter, compared to analyst estimates of $110.08 million.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director Tracie Winbigler sold 3,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $47.45, for a total transaction of $142,350.00. Following the completion of the transaction, the director directly owned 14,246 shares of the company’s stock, valued at approximately $675,972.70. This trade represents a 17.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director G Haning sold 3,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value of $147,180.00. Following the completion of the sale, the director directly owned 19,750 shares in the company, valued at $968,935. This represents a 13.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 15,483 shares of company stock valued at $763,214. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently bought and sold shares of RCKY. Legal & General Group Plc acquired a new stake in Rocky Brands in the 2nd quarter valued at about $29,000. SG Americas Securities LLC acquired a new position in shares of Rocky Brands in the 1st quarter worth approximately $149,000. California State Teachers Retirement System raised its holdings in shares of Rocky Brands by 968.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,083 shares of the textile maker’s stock worth $168,000 after purchasing an additional 3,701 shares in the last quarter. James Investment Research Inc. bought a new stake in shares of Rocky Brands in the 1st quarter worth approximately $211,000. Finally, Principal Financial Group Inc. acquired a new stake in Rocky Brands during the first quarter valued at approximately $233,000. 75.06% of the stock is currently owned by institutional investors.

About Rocky Brands

(Get Free Report)

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. The company designs, develops, manufactures, and markets footwear for outdoor, work, western, military, public-safety, and lifestyle uses.

Its portfolio includes Rocky outdoor and work footwear, Georgia Boot work and western products, Durango western and lifestyle boots, and Lehigh Safety Shoe products. The company offers boots and shoes designed for activities and occupations requiring durability, protection, traction, and comfort, along with related apparel and accessories.

Founded in 1932 as the William Brooks Shoe Company, Rocky Brands has expanded from its Ohio manufacturing roots into a multichannel footwear business.

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