Rocky Brands (NASDAQ:RCKY) Price Target Cut to $62.00

Rocky Brands (NASDAQ:RCKYGet Rating) had its price target dropped by research analysts at BTIG Research from $73.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. BTIG Research’s price target points to a potential upside of 125.21% from the stock’s current price.

Separately, Robert W. Baird decreased their price target on shares of Rocky Brands from $47.00 to $32.00 in a research note on Wednesday.

Rocky Brands Trading Up 0.1 %

NASDAQ RCKY opened at $27.53 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 0.75. The firm’s fifty day moving average price is $34.25 and its 200 day moving average price is $38.63. The company has a market capitalization of $201.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.71. Rocky Brands has a 12 month low of $24.20 and a 12 month high of $56.96.

Rocky Brands (NASDAQ:RCKYGet Rating) last posted its earnings results on Tuesday, August 2nd. The textile maker reported $0.34 EPS 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 quarter in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that Rocky Brands will post 5.5 earnings per share for the current fiscal year.

Institutional Trading of Rocky Brands

Hedge funds have recently made changes to their positions in the company. Kennedy Capital Management Inc. lifted its stake in shares of Rocky Brands by 7.7% in the 4th quarter. Kennedy Capital Management Inc. now owns 209,756 shares of the textile maker’s stock worth $8,348,000 after acquiring an additional 14,962 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Rocky Brands by 61.2% in the 4th quarter. BNP Paribas Arbitrage SA now owns 2,864 shares of the textile maker’s stock worth $114,000 after acquiring an additional 1,087 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Rocky Brands in the 4th quarter worth $799,000. First Trust Advisors LP lifted its stake in shares of Rocky Brands by 14.2% in the 4th quarter. First Trust Advisors LP now owns 11,124 shares of the textile maker’s stock worth $443,000 after acquiring an additional 1,383 shares during the period. Finally, Oak Harbor Wealth Partners LLC acquired a new stake in shares of Rocky Brands in the 4th quarter worth $285,000. Institutional investors and hedge funds own 79.35% of the company’s stock.

About Rocky Brands

(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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