Rocky Brands Inc. (RCKY) Set to Announce Quarterly Earnings on Wednesday
Rocky Brands Inc. (NASDAQ:RCKY) will be announcing its earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.17 per share for the quarter.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.47. Rocky Brands had a net margin of 0.48% and a return on equity of 0.88%. The firm earned $62.60 million during the quarter, compared to the consensus estimate of $72.42 million. On average, analysts expect Rocky Brands to post $0.24 EPS for the current fiscal year and $0.9 EPS for the next fiscal year.
Shares of Rocky Brands Inc. (NASDAQ:RCKY) opened at 10.25 on Monday. The company has a market capitalization of $76.71 million, a P/E ratio of 63.66 and a beta of 0.87. The stock has a 50 day moving average price of $10.43 and a 200-day moving average price of $11.37. Rocky Brands Inc. has a one year low of $9.67 and a one year high of $16.00.
A number of research analysts have recently commented on the company. B. Riley reissued a “buy” rating and set a $14.00 price objective on shares of Rocky Brands in a report on Wednesday, July 27th. Zacks Investment Research raised Rocky Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, June 23rd. Finally, Robert W. Baird increased their price objective on Rocky Brands from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, August 18th.
In other Rocky Brands news, insider Curtis A. Loveland bought 2,500 shares of the stock in a transaction on Wednesday, August 24th. The shares were purchased at an average price of $10.30 per share, with a total value of $25,750.00. Following the acquisition, the insider now directly owns 80,153 shares of the company’s stock, valued at approximately $825,575.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Glen E. Corlett bought 5,000 shares of the stock in a transaction on Wednesday, August 31st. The stock was acquired at an average cost of $10.70 per share, for a total transaction of $53,500.00. Following the acquisition, the director now directly owns 23,692 shares in the company, valued at $253,504.40. The disclosure for this purchase can be found here. 8.90% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Eagle Global Advisors LLC acquired a new stake in Rocky Brands during the second quarter worth about $118,000. TFS Capital LLC acquired a new stake in Rocky Brands during the second quarter worth about $135,000. Franklin Resources Inc. raised its stake in Rocky Brands by 790.3% in the second quarter. Franklin Resources Inc. now owns 138,000 shares of the company’s stock worth $1,576,000 after buying an additional 122,500 shares during the period. Dimensional Fund Advisors LP raised its stake in Rocky Brands by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 641,036 shares of the company’s stock worth $7,321,000 after buying an additional 22,456 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Rocky Brands by 377.8% in the second quarter. Nationwide Fund Advisors now owns 9,232 shares of the company’s stock worth $105,000 after buying an additional 7,300 shares during the period. 49.19% of the stock is currently owned by hedge funds and other institutional investors.
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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