Rocky Brands (NASDAQ:RCKY) Price Target Cut to $32.00

Rocky Brands (NASDAQ:RCKYGet Rating) had its price objective cut by equities researchers at Robert W. Baird from $47.00 to $32.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Robert W. Baird’s price objective would indicate a potential upside of 16.24% from the stock’s current price.

Separately, BTIG Research dropped their price target on Rocky Brands from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st.

Rocky Brands Trading Up 0.1 %

NASDAQ RCKY opened at $27.53 on Wednesday. The company has a market cap of $201.33 million, a PE ratio of 10.01 and a beta of 0.71. 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 $24.20 and a 12 month high of $56.96. The stock has a 50 day moving average of $34.25 and a 200-day moving average of $38.63.

Rocky Brands (NASDAQ:RCKYGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The textile maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.44). Rocky Brands had a net margin of 3.27% and a return on equity of 13.76%. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Rocky Brands will post 5.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RCKY. Janney Montgomery Scott LLC increased its position in Rocky Brands by 11.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,375 shares of the textile maker’s stock worth $373,000 after buying an additional 971 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Rocky Brands in the fourth quarter worth $5,711,000. North Star Investment Management Corp. increased its position in shares of Rocky Brands by 2.4% in the fourth quarter. North Star Investment Management Corp. now owns 214,625 shares of the textile maker’s stock worth $8,542,000 after purchasing an additional 5,000 shares during the period. Royce & Associates LP bought a new position in shares of Rocky Brands in the fourth quarter worth $6,341,000. Finally, Victory Capital Management Inc. increased its position in shares of Rocky Brands by 13.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,817 shares of the textile maker’s stock worth $232,000 after purchasing an additional 711 shares during the period. Institutional investors own 79.35% of the company’s stock.

Rocky Brands Company Profile

(Get Rating)

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.

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