RCKY - Rocky Brands: EPS +131% At 10x P/E Stock Is Still Attractive With Significant Upside Potential
- 2Q21 net sales up 134.2% YoY and adjusted net income up 131.2% YoY.
- Demand for their brands has remained robust.
- Adjusted gross margins improved 270bps YoY.
- Accretive Honeywell footwear brands acquisition aided growth in financials.
- Stock up 150% since our initial recommendation in August 2020 and we still expect significant upside.
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Rocky Brands: EPS +131%, At 10x P/E, Stock Is Still Attractive With Significant Upside Potential