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

Rocky Brands (NASDAQ:RCKY) had its target price dropped by equities research analysts at Robert W. Baird from $32.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s price objective indicates a potential downside of 9.78% from the stock’s previous close.

Rocky Brands Trading Down 0.0 %

Shares of Rocky Brands stock opened at $27.71 on Thursday. Rocky Brands has a 1 year low of $11.77 and a 1 year high of $40.14. The firm has a market cap of $205.69 million, a PE ratio of 15.31 and a beta of 2.08. The stock has a fifty day moving average price of $30.16 and a 200-day moving average price of $32.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 0.85.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, July 30th. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07. The company had revenue of $98.26 million during the quarter. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Rocky Brands by 24.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 132,009 shares of the textile maker’s stock worth $4,879,000 after acquiring an additional 25,573 shares during the period. American Century Companies Inc. grew its stake in shares of Rocky Brands by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 129,234 shares of the textile maker’s stock worth $4,776,000 after acquiring an additional 24,135 shares during the period. Bank of New York Mellon Corp boosted its stake in Rocky Brands by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock worth $2,637,000 after purchasing an additional 2,962 shares during the period. Panagora Asset Management Inc. boosted its stake in Rocky Brands by 21.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 36,371 shares of the textile maker’s stock worth $1,344,000 after purchasing an additional 6,533 shares during the period. Finally, Marshall Wace LLP boosted its stake in Rocky Brands by 21.0% in the 2nd quarter. Marshall Wace LLP now owns 29,355 shares of the textile maker’s stock worth $1,085,000 after purchasing an additional 5,086 shares during the period. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

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.