Rocky Brands (NASDAQ:RCKY) Price Target Raised to $32.00 at Robert W. Baird

Rocky Brands (NASDAQ:RCKY) had its price objective hoisted by Robert W. Baird from $28.00 to $32.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

A number of other equities analysts have also commented on the company. StockNews.com cut Rocky Brands from a buy rating to a hold rating in a report on Thursday, April 25th. B. Riley upped their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th.

Rocky Brands Price Performance

NASDAQ:RCKY opened at $35.11 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 3.61 and a debt-to-equity ratio of 0.76. The firm has a market cap of $260.62 million, a PE ratio of 19.40 and a beta of 1.97. Rocky Brands has a 12 month low of $11.77 and a 12 month high of $35.69. The company’s 50-day moving average price is $26.98 and its two-hundred day moving average price is $26.25.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $125.95 million during the quarter, compared to analysts’ expectations of $128.90 million. Rocky Brands had a net margin of 2.88% and a return on equity of 8.49%.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a $0.155 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.62 annualized dividend and a dividend yield of 1.77%. Rocky Brands’s dividend payout ratio (DPR) is currently 34.25%.

Insider Transactions at Rocky Brands

In related news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total value of $163,900.00. Following the transaction, the director now owns 20,686 shares in the company, valued at $678,087.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after acquiring an additional 826 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Rocky Brands by 59.5% during the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after purchasing an additional 1,332 shares during the period. SG Americas Securities LLC bought a new stake in Rocky Brands in the fourth quarter valued at about $118,000. New York State Common Retirement Fund lifted its stake in Rocky Brands by 1,793.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock valued at $138,000 after buying an additional 4,323 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Rocky Brands during the fourth quarter worth about $235,000. 75.06% of the stock is owned by institutional investors.

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.