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

Rocky Brands (NASDAQ:RCKY) had its price target upped by research analysts at Robert W. Baird from $28.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s target price would indicate a potential upside of 24.18% from the stock’s current price.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. B. Riley boosted their target price on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $25.77 on Wednesday. Rocky Brands has a one year low of $11.77 and a one year high of $32.38. The company has a market cap of $191.21 million, a P/E ratio of 18.15 and a beta of 1.97. The firm has a 50-day moving average of $26.82 and a 200-day moving average of $25.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The company had revenue of $125.95 million during the quarter, compared to the consensus estimate of $128.90 million. Equities research analysts forecast that Rocky Brands will post 1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently modified their holdings of RCKY. Tower Research Capital LLC TRC lifted its stake in Rocky Brands by 94.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after purchasing an additional 826 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocky Brands during the fourth quarter worth about $118,000. New York State Common Retirement Fund increased its position in shares of 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 worth $138,000 after purchasing an additional 4,323 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Rocky Brands in the fourth quarter valued at approximately $235,000. Finally, Yarger Wealth Strategies LLC bought a new stake in Rocky Brands during the first quarter valued at approximately $245,000. 75.06% of the stock is owned by hedge funds and other 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.