Rocky Brands (NASDAQ:RCKY) Downgraded by StockNews.com

StockNews.com lowered shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a research note published on Thursday morning.

Separately, B. Riley upped their price objective on shares of Rocky Brands from $19.00 to $24.00 and gave the company a neutral rating in a report on Tuesday, February 27th.

Rocky Brands Stock Down 0.3 %

RCKY stock opened at $26.49 on Thursday. The firm’s fifty day simple moving average is $26.86 and its 200-day simple moving average is $25.63. The company has a market capitalization of $196.56 million, a P/E ratio of 18.65 and a beta of 1.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24. Rocky Brands has a 12 month low of $11.77 and a 12 month high of $32.38.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a net margin of 2.26% and a return on equity of 6.70%. As a group, equities research analysts forecast that Rocky Brands will post 1.96 earnings per share for the current year.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, March 1st. Rocky Brands’s dividend payout ratio is currently 43.66%.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently made changes to their positions in RCKY. Tower Research Capital LLC TRC lifted its stake in shares of Rocky Brands by 94.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 826 shares during the period. SG Americas Securities LLC acquired a new position in shares of Rocky Brands in the 4th quarter valued at $118,000. New York State Common Retirement Fund raised its position in Rocky Brands by 1,793.8% during the fourth quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock worth $138,000 after acquiring an additional 4,323 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Rocky Brands during the fourth quarter worth $235,000. Finally, Denali Advisors LLC raised its position in Rocky Brands by 92.0% during the third quarter. Denali Advisors LLC now owns 16,700 shares of the textile maker’s stock worth $245,000 after acquiring an additional 8,000 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Brands

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.