ValuEngine Upgrades Rocky Brands (RCKY) to Buy

Rocky Brands (NASDAQ:RCKY) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other brokerages also recently issued reports on RCKY. Zacks Investment Research downgraded shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Robert W. Baird raised their price objective on shares of Rocky Brands from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.00.

Shares of Rocky Brands (RCKY) opened at $18.90 on Friday. The stock has a market cap of $139.76, a price-to-earnings ratio of 30.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.91 and a quick ratio of 1.95. Rocky Brands has a 52 week low of $10.25 and a 52 week high of $20.15.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Rocky Brands by 0.6% during the second quarter. Vanguard Group Inc. now owns 299,488 shares of the textile maker’s stock worth $4,029,000 after buying an additional 1,679 shares in the last quarter. Northern Trust Corp boosted its stake in Rocky Brands by 20.8% during the second quarter. Northern Trust Corp now owns 26,996 shares of the textile maker’s stock worth $363,000 after buying an additional 4,643 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Rocky Brands during the second quarter worth $164,000. JPMorgan Chase & Co. boosted its stake in Rocky Brands by 68.8% during the third quarter. JPMorgan Chase & Co. now owns 31,793 shares of the textile maker’s stock worth $416,000 after buying an additional 12,958 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Rocky Brands during the second quarter worth $176,000. Hedge funds and other institutional investors own 55.93% of the company’s stock.

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About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.

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