Zacks Investment Research Upgrades Rocky Brands (RCKY) to Buy

Zacks Investment Research upgraded shares of Rocky Brands (NASDAQ:RCKY) from a hold rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $30.00 target price on the textile maker’s stock.

According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “

Separately, ValuEngine upgraded shares of Rocky Brands from a hold rating to a buy rating in a research report on Monday, December 31st.

Shares of NASDAQ:RCKY opened at $26.48 on Friday. The stock has a market capitalization of $199.71 million, a P/E ratio of 22.83 and a beta of 0.26. Rocky Brands has a 52 week low of $15.88 and a 52 week high of $33.45.

Large investors have recently made changes to their positions in the stock. Nkcfo LLC acquired a new stake in shares of Rocky Brands during the 4th quarter valued at approximately $43,000. Strs Ohio lifted its position in shares of Rocky Brands by 25.9% during the 3rd quarter. Strs Ohio now owns 10,326 shares of the textile maker’s stock valued at $292,000 after acquiring an additional 2,126 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Rocky Brands by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 626,747 shares of the textile maker’s stock valued at $17,737,000 after acquiring an additional 6,541 shares during the period. Bessemer Group Inc. lifted its position in shares of Rocky Brands by 172.1% during the 3rd quarter. Bessemer Group Inc. now owns 11,700 shares of the textile maker’s stock valued at $331,000 after acquiring an additional 7,400 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Rocky Brands by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 326,219 shares of the textile maker’s stock valued at $9,232,000 after acquiring an additional 8,007 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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.

Further Reading: Trading Strategy Methods for Individual Investors

Get a free copy of the Zacks research report on Rocky Brands (RCKY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rocky Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocky Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply