Robert W. Baird Cuts Rocky Brands (NASDAQ:RCKY) Price Target to $25.00

by · The Markets Daily

Rocky Brands (NASDAQ:RCKY – Free Report) had its target price decreased by Robert W. Baird from $32.00 to $25.00 in a research report released on Thursday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the textile maker’s stock.

Rocky Brands Price Performance

Shares of RCKY stock opened at $20.47 on Thursday. Rocky Brands has a 1 year low of $15.23 and a 1 year high of $40.14. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $29.76 and its 200-day moving average is $32.21. The firm has a market capitalization of $152.50 million, a price-to-earnings ratio of 11.50 and a beta of 2.14.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.155 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.62 annualized dividend and a dividend yield of 3.03%. Rocky Brands’s dividend payout ratio (DPR) is currently 34.83%.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently made changes to their positions in RCKY. BNP Paribas Financial Markets increased its position in Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after purchasing an additional 1,332 shares during the period. Empowered Funds LLC acquired a new position in Rocky Brands during the 1st quarter valued at about $517,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Rocky Brands by 39.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,518 shares of the textile maker’s stock valued at $638,000 after purchasing an additional 6,646 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $149,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock worth $2,637,000 after buying an additional 2,962 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Rocky Brands

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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.

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