Robert W. Baird Issues Positive Forecast for Rocky Brands (NASDAQ:RCKY) Stock Price

Rocky Brands (NASDAQ:RCKY) had its price target lifted by equities research analysts at Robert W. Baird from $53.00 to $56.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s price objective points to a potential upside of 31.06% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.00.

Rocky Brands Price Performance

Shares of NASDAQ RCKY opened at $42.73 on Wednesday. The stock has a market capitalization of $322.18 million, a PE ratio of 17.30 and a beta of 2.37. Rocky Brands has a fifty-two week low of $22.61 and a fifty-two week high of $48.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The business has a fifty day moving average price of $39.62 and a two-hundred day moving average price of $38.37.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, beating the consensus estimate of $0.35 by $1.55. Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The firm had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million.

Hedge Funds Weigh In On Rocky Brands

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in Rocky Brands during the fourth quarter worth $35,000. Strs Ohio bought a new stake in Rocky Brands in the 1st quarter worth about $92,000. BNP Paribas Financial Markets increased its stake in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after buying an additional 2,903 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rocky Brands in the 1st quarter valued at about $149,000. Finally, Deutsche Bank AG lifted its position in shares of Rocky Brands by 10.0% during the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.