Shares of Rocky Brands Inc (NASDAQ:RCKY) have been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Brokers have set a 12-month consensus price objective of $30.00 for the company and are forecasting that the company will post $0.42 EPS for the current quarter, according to Zacks. Zacks has also assigned Rocky Brands an industry rank of 39 out of 255 based on the ratings given to related companies.
RCKY has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Friday, January 25th. ValuEngine cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Monday, February 4th.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Monday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The firm had revenue of $67.19 million during the quarter, compared to analysts’ expectations of $66.00 million. Rocky Brands had a net margin of 5.76% and a return on equity of 9.47%. As a group, sell-side analysts predict that Rocky Brands will post 1.98 earnings per share for the current year.
In other Rocky Brands news, Director James L. Stewart sold 3,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $28.50, for a total transaction of $85,500.00. Following the completion of the transaction, the director now owns 13,421 shares of the company’s stock, valued at approximately $382,498.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Byron Wortham sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the transaction, the insider now directly owns 2,350 shares of the company’s stock, valued at approximately $70,500. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock valued at $307,780 over the last quarter. 9.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RCKY. Strs Ohio raised its position in shares of Rocky Brands by 24.9% during the fourth quarter. Strs Ohio now owns 12,900 shares of the textile maker’s stock valued at $335,000 after buying an additional 2,574 shares during the last quarter. BlackRock Inc. raised its position in shares of Rocky Brands by 9.1% during the third quarter. BlackRock Inc. now owns 668,470 shares of the textile maker’s stock valued at $18,918,000 after buying an additional 55,924 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Rocky Brands by 72.0% during the fourth quarter. New York State Common Retirement Fund now owns 37,319 shares of the textile maker’s stock valued at $970,000 after buying an additional 15,619 shares during the last quarter. Vanguard Group Inc raised its position in shares of Rocky Brands by 2.5% during the third quarter. Vanguard Group Inc now owns 326,219 shares of the textile maker’s stock valued at $9,232,000 after buying an additional 8,007 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Rocky Brands by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 626,747 shares of the textile maker’s stock valued at $17,737,000 after buying an additional 6,541 shares during the last quarter. 72.62% 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 under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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