Rocky Brands (NASDAQ:RCKY – Get Rating) had its target price reduced by equities research analysts at BTIG Research from $78.00 to $73.00 in a report released on Thursday, The Fly reports. BTIG Research’s price target would suggest a potential upside of 100.55% from the company’s previous close.
Separately, StockNews.com assumed coverage on shares of Rocky Brands in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.
Rocky Brands Stock Down 0.3 %
Shares of NASDAQ RCKY opened at $36.40 on Thursday. The company has a current ratio of 2.22, a quick ratio of 0.75 and a debt-to-equity ratio of 1.29. Rocky Brands has a 12 month low of $30.89 and a 12 month high of $59.56. The firm has a market capitalization of $266.08 million, a PE ratio of 11.56 and a beta of 0.78. The firm has a fifty day simple moving average of $35.03 and a two-hundred day simple moving average of $39.45.
Is it Too Late to Step in on Rocky Brands?
Rocky Brands (NASDAQ:RCKY – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The textile maker reported $1.10 EPS for the quarter, topping the consensus estimate of $0.94 by $0.16. Rocky Brands had a net margin of 3.94% and a return on equity of 16.42%. The business had revenue of $167.03 million during the quarter, compared to analyst estimates of $137.42 million. During the same period in the prior year, the business earned $1.19 EPS. Equities analysts expect that Rocky Brands will post 5.5 earnings per share for the current year.
Institutional Trading of Rocky Brands
Several institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in shares of Rocky Brands during the first quarter worth $35,000. Quantbot Technologies LP raised its holdings in Rocky Brands by 103.8% in the first quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock worth $33,000 after purchasing an additional 408 shares in the last quarter. Select Equity Group L.P. raised its holdings in Rocky Brands by 23.3% in the first quarter. Select Equity Group L.P. now owns 37,524 shares of the textile maker’s stock worth $1,561,000 after purchasing an additional 7,091 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Rocky Brands in the first quarter worth about $250,000. Finally, State Street Corp raised its holdings in Rocky Brands by 0.4% in the first quarter. State Street Corp now owns 121,685 shares of the textile maker’s stock worth $5,061,000 after purchasing an additional 489 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors.
About Rocky Brands
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.