Rocky Brands Inc (NASDAQ:RCKY) has been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Brokers have set a one year consensus price objective of $28.00 for the company and are predicting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Rocky Brands an industry rank of 29 out of 255 based on the ratings given to related companies.
Several equities research analysts have recently commented on the company. Robert W. Baird restated a “hold” rating and issued a $19.00 price objective on shares of Rocky Brands in a research note on Friday, February 23rd. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research note on Friday, April 27th. Finally, ValuEngine upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.
Institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new position in Rocky Brands in the 1st quarter worth $384,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Rocky Brands during the 4th quarter valued at about $401,000. Investors Research Corp bought a new position in shares of Rocky Brands during the 4th quarter valued at about $440,000. Russell Investments Group Ltd. bought a new position in shares of Rocky Brands during the 1st quarter valued at about $501,000. Finally, Bailard Inc. bought a new position in shares of Rocky Brands during the 4th quarter valued at about $656,000. 60.78% of the stock is owned by institutional investors.
Shares of NASDAQ:RCKY traded down $0.05 during midday trading on Friday, hitting $28.55. The company had a trading volume of 1,032 shares, compared to its average volume of 55,157. The firm has a market capitalization of $211.84 million, a price-to-earnings ratio of 24.61 and a beta of 0.36. Rocky Brands has a 12-month low of $12.20 and a 12-month high of $30.30.
Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, April 24th. The textile maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. The firm had revenue of $61.39 million during the quarter, compared to analyst estimates of $61.60 million. Rocky Brands had a return on equity of 7.40% and a net margin of 4.51%. research analysts anticipate that Rocky Brands will post 1.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.48 annualized dividend and a yield of 1.68%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.11. Rocky Brands’s dividend payout ratio is currently 41.38%.
Rocky Brands declared that its Board of Directors has authorized a stock repurchase program on Monday, March 5th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the textile maker to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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.
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