Rocky Brands (NASDAQ:RCKY) Stock Rating Lowered by Wall Street Zen

Rocky Brands (NASDAQ:RCKY) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

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

Rocky Brands Stock Performance

Shares of NASDAQ RCKY opened at $45.20 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88. The firm has a market cap of $338.55 million, a price-to-earnings ratio of 15.27 and a beta of 2.61. The stock’s fifty day moving average price is $32.73 and its two-hundred day moving average price is $30.47. Rocky Brands has a one year low of $11.93 and a one year high of $48.70.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, February 24th. The textile maker reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.46. Rocky Brands had a return on equity of 10.20% and a net margin of 4.62%.The company had revenue of $139.72 million during the quarter, compared to the consensus estimate of $134.05 million.

Hedge Funds Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Rocky Brands during the 4th quarter worth $35,000. Strs Ohio acquired a new stake in shares of Rocky Brands during the first quarter valued at about $92,000. BNP Paribas Financial Markets grew its holdings in shares of Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after buying an additional 464 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Rocky Brands in the 2nd quarter valued at approximately $155,000. Institutional investors own 75.06% of the company’s stock.

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.