Robert W. Baird Lowers Rocky Brands (NASDAQ:RCKY) Price Target to $25.00

Rocky Brands (NASDAQ:RCKY) had its price target reduced by research analysts at Robert W. Baird from $32.00 to $25.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s price target would indicate a potential downside of 9.78% from the stock’s previous close.

Rocky Brands Price Performance

Shares of NASDAQ:RCKY opened at $27.71 on Thursday. The company has a quick ratio of 0.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.64. Rocky Brands has a twelve month low of $11.77 and a twelve month high of $40.14. The stock’s 50 day moving average is $30.16 and its 200-day moving average is $32.33. The firm has a market capitalization of $205.69 million, a price-to-earnings ratio of 15.31 and a beta of 2.08.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 30th. The textile maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The company had revenue of $98.26 million for the quarter. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently bought and sold shares of RCKY. BNP Paribas Financial Markets raised its position in Rocky Brands by 59.5% in the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after buying an additional 1,332 shares during the last quarter. Empowered Funds LLC purchased a new stake in Rocky Brands in the 1st quarter valued at $517,000. O Shaughnessy Asset Management LLC raised its position in Rocky Brands by 39.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,518 shares of the textile maker’s stock valued at $638,000 after buying an additional 6,646 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rocky Brands in the 2nd quarter valued at $149,000. Finally, Bank of New York Mellon Corp increased its position in shares of Rocky Brands by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after purchasing an additional 2,962 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

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.