Rocky Brands Inc (RCKY) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Rocky Brands Inc (NASDAQ:RCKY) have received a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a 1-year consensus target price of $18.00 for the company and are expecting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also assigned Rocky Brands an industry rank of 92 out of 265 based on the ratings given to its competitors.
Several research firms recently issued reports on RCKY. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Thursday. Robert W. Baird reiterated a “hold” rating and issued a $18.00 price objective on shares of Rocky Brands in a report on Wednesday. Finally, ValuEngine upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, November 24th. Rocky Brands’s dividend payout ratio (DPR) is 72.13%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Rocky Brands by 332.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,835 shares of the textile maker’s stock valued at $253,000 after buying an additional 14,478 shares during the period. Franklin Resources Inc. raised its position 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 valued at $2,690,000 after buying an additional 29,400 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Rocky Brands during the 2nd quarter valued at approximately $164,000. Nationwide Fund Advisors raised its position 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 valued at $569,000 after buying an additional 33,276 shares during the period. Finally, Northern Trust Corp raised its position in shares of Rocky Brands by 20.8% during the 2nd quarter. Northern Trust Corp now owns 26,996 shares of the textile maker’s stock valued at $363,000 after buying an additional 4,643 shares during the period. 55.93% of the stock is currently owned by institutional investors and hedge funds.
Rocky Brands Company Profile
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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