Rocky Brands (NASDAQ:RCKY) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.56 and traded as high as $30.39. Rocky Brands shares last traded at $30.14, with a volume of 51,980 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RCKY shares. Robert W. Baird set a $42.00 price objective on shares of Rocky Brands in a report on Wednesday, October 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rocky Brands has an average rating of “Moderate Buy” and an average price target of $42.00.

Rocky Brands Trading Down 0.6%

The firm’s 50-day moving average price is $29.08 and its 200 day moving average price is $25.64. The company has a market cap of $225.87 million, a price-to-earnings ratio of 11.00 and a beta of 2.49. The company has a current ratio of 2.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%. The firm had revenue of $122.54 million for the quarter, compared to analyst estimates of $122.92 million.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.155 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.62 annualized dividend and a yield of 2.1%. Rocky Brands’s dividend payout ratio is presently 22.63%.

Insider Activity

In other news, Director Tracie A. Winbigler sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total transaction of $149,750.00. Following the completion of the sale, the director directly owned 6,978 shares of the company’s stock, valued at $208,991.10. The trade was a 41.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William L. Jordan sold 5,000 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the completion of the sale, the director owned 18,683 shares in the company, valued at $562,358.30. This represents a 21.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 46,156 shares of company stock valued at $1,398,224. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocky Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after buying an additional 2,903 shares during the last quarter. Strs Ohio bought a new position in Rocky Brands in the 1st quarter valued at $92,000. Metis Global Partners LLC bought a new position in Rocky Brands in the 3rd quarter valued at $208,000. Lazard Asset Management LLC purchased a new stake in shares of Rocky Brands during the 2nd quarter valued at $155,000. Finally, Man Group plc bought a new stake in shares of Rocky Brands during the 3rd quarter worth $230,000. Hedge funds and other 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.