Rocky Brands, Inc. (RCKY) Given $15.00 Consensus Target Price by Brokerages

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 company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus target price of $15.00 for the company and are forecasting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 50 out of 265 based on the ratings given to related companies.

Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research note on Friday, October 27th. Finally, Robert W. Baird lifted their target price on shares of Rocky Brands from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Rocky Brands by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 299,488 shares of the textile maker’s stock worth $4,029,000 after acquiring an additional 1,679 shares during the period. Franklin Resources Inc. raised its holdings in shares of Rocky Brands by 17.2% during the 2nd quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock worth $2,690,000 after acquiring an additional 29,400 shares during the period. Numeric Investors LLC raised its holdings in shares of Rocky Brands by 139.3% during the 2nd quarter. Numeric Investors LLC now owns 199,040 shares of the textile maker’s stock worth $2,677,000 after acquiring an additional 115,868 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Rocky Brands by 24.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 69,978 shares of the textile maker’s stock worth $938,000 after acquiring an additional 13,580 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in shares of Rocky Brands by 368.4% during the 2nd quarter. Nationwide Fund Advisors now owns 42,308 shares of the textile maker’s stock worth $569,000 after acquiring an additional 33,276 shares during the period. Institutional investors and hedge funds own 55.93% of the company’s stock.

Shares of Rocky Brands (RCKY) traded up $0.20 on Friday, reaching $18.10. 17,554 shares of the company’s stock traded hands, compared to its average volume of 33,759. Rocky Brands has a 52 week low of $10.25 and a 52 week high of $20.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 4.91. The firm has a market cap of $131.62, a PE ratio of 18.35 and a beta of 0.70.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, November 24th. This represents a $0.44 annualized dividend and a dividend yield of 2.43%. Rocky Brands’s dividend payout ratio is presently 72.13%.

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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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