Robert W. Baird Reaffirms “Hold” Rating for Rocky Brands, Inc. (RCKY)

Rocky Brands, Inc. (NASDAQ:RCKY)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a report released on Sunday. They presently have a $13.00 price objective on the textile maker’s stock. Robert W. Baird’s target price points to a potential downside of 1.14% from the stock’s current price.

RCKY has been the subject of several other research reports. ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, July 28th. Finally, TheStreet raised shares of Rocky Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.00.

Rocky Brands (NASDAQ:RCKY) traded up 1.94% on Friday, hitting $13.15. The company’s stock had a trading volume of 25,770 shares. The firm has a market cap of $97.91 million, a price-to-earnings ratio of 35.44 and a beta of 0.58. Rocky Brands has a 12 month low of $9.95 and a 12 month high of $15.70. The firm has a 50 day moving average of $13.50 and a 200 day moving average of $12.84.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.18. Rocky Brands had a net margin of 1.06% and a return on equity of 4.02%. The firm had revenue of $58.46 million during the quarter, compared to the consensus estimate of $61.70 million. Equities research analysts forecast that Rocky Brands will post $0.90 earnings per share for the current fiscal year.

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In other Rocky Brands news, Director Robert Burton Jr. Moore acquired 5,000 shares of Rocky Brands stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $13.80 per share, with a total value of $69,000.00. Following the completion of the purchase, the director now directly owns 13,619 shares of the company’s stock, valued at approximately $187,942.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in Rocky Brands in the first quarter worth approximately $122,000. Ameriprise Financial Inc. purchased a new position in Rocky Brands in the second quarter worth $164,000. Arrowstreet Capital Limited Partnership purchased a new position in Rocky Brands in the second quarter worth $176,000. Raymond James Financial Services Advisors Inc. purchased a new position in Rocky Brands in the second quarter worth $176,000. Finally, Nordea Investment Management AB purchased a new position in Rocky Brands in the second quarter worth $203,000. 56.93% of the stock is owned by institutional investors.

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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