Alert: Positive Investment/Fundamental Signals (12/4/23)-Rocky Brands Inc (NASDAQ: RCKY)

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Rocky Brands Inc (NASDAQ: RCKY) has benefited from exceptional positive changes in investment behavior: its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.

Recent modest positive changes in fundamentals have benefitted Rocky Brands Inc (NASDAQ: RCKY). Positive developments: the consensus estimate for December, 2024 increased significantly, and the consensus estimate for December, 2023 increased significantly. Negative development: significant quarterly sales deceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.

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Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, RCKY is expected to be a modest Value Builder.

Rocky Brands has a current Value Trend Rating of C (Low Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Rocky Brands has a slightly positive Appreciation Score of 67 but a poor Power Rating of 29, and the Low Neutral Value Trend Rating results.

Recent Price Action

Rocky Brands Inc (NASDAQ: RCKY) stock closed at $30.29 on 12/4/23 after a large increase of 4.9%. Moreover, exceptionally high trading volume at 200% of normal accompanied the advance. The stock has risen 14.0% during the last week but has been weak relative to the market over the last nine months.

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