Rocky Brands (NASDAQ:RCKY) Upgraded at StockNews.com

StockNews.com upgraded shares of Rocky Brands (NASDAQ:RCKYFree Report) from a hold rating to a buy rating in a research note published on Friday.

Separately, Robert W. Baird decreased their target price on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

View Our Latest Analysis on Rocky Brands

Rocky Brands Stock Down 1.8 %

RCKY stock opened at $25.04 on Friday. The stock has a 50-day simple moving average of $23.20 and a two-hundred day simple moving average of $26.85. Rocky Brands has a twelve month low of $19.65 and a twelve month high of $40.14. The firm has a market capitalization of $186.65 million, a PE ratio of 14.07 and a beta of 2.10. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 2.48%. Rocky Brands’s dividend payout ratio is currently 34.83%.

Institutional Trading of Rocky Brands

A number of large investors have recently modified their holdings of RCKY. Squarepoint Ops LLC bought a new position in shares of Rocky Brands in the second quarter worth approximately $517,000. Summit Global Investments purchased a new position in Rocky Brands in the 3rd quarter worth approximately $341,000. Inspire Advisors LLC bought a new position in shares of Rocky Brands in the 3rd quarter worth $339,000. Geode Capital Management LLC raised its position in shares of Rocky Brands by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock valued at $5,364,000 after buying an additional 7,353 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Rocky Brands by 292.3% during the 3rd quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after buying an additional 7,270 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

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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.

Further Reading

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