Rocky Brands (NASDAQ:RCKY) Lowered to Hold Rating by StockNews.com

Rocky Brands (NASDAQ:RCKY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, Robert W. Baird lowered their price target on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday.

Rocky Brands Stock Down 26.6 %

Shares of NASDAQ RCKY traded down $7.37 during trading on Thursday, hitting $20.34. 149,847 shares of the company traded hands, compared to its average volume of 39,207. Rocky Brands has a fifty-two week low of $11.77 and a fifty-two week high of $40.14. The firm has a market capitalization of $150.98 million, a price-to-earnings ratio of 11.24 and a beta of 2.08. The business’s fifty day moving average is $30.16 and its 200 day moving average is $32.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 2.87.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, July 30th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. Rocky Brands had a net margin of 3.21% and a return on equity of 8.85%. The business had revenue of $98.26 million during the quarter.

Hedge Funds Weigh In On Rocky Brands

Several institutional investors have recently bought and sold shares of RCKY. Victory Capital Management Inc. raised its stake in Rocky Brands by 29.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 618 shares during the period. Yarger Wealth Strategies LLC raised its position in shares of Rocky Brands by 7.7% in the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock worth $360,000 after buying an additional 692 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Rocky Brands by 59.5% in the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after acquiring an additional 1,332 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after purchasing an additional 2,962 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Rocky Brands during the 2nd quarter worth $149,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.