Rocky Brands (NASDAQ:RCKY) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $41.56 and traded as high as $45.53. Rocky Brands shares last traded at $45.15, with a volume of 73,539 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on RCKY shares. Robert W. Baird reissued a “neutral” rating and set a $50.00 price target on shares of Rocky Brands in a research report on Monday, September 14th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Rocky Brands presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Rocky Brands Price Performance

The company has a market capitalization of $334.58 million, a PE ratio of 11.69 and a beta of 2.36. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $45.13 and its 200-day moving average price is $41.56.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. The firm had revenue of $118.37 million for the quarter, compared to analysts’ expectations of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. Rocky Brands’s payout ratio is presently 17.80%.

Insider Buying and Selling at Rocky Brands

In related news, Director Tracie Winbigler sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director owned 14,246 shares in the company, valued at approximately $675,972.70. This trade represents a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G Haning sold 3,000 shares of Rocky Brands stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.06, for a total transaction of $147,180.00. Following the transaction, the director directly owned 19,750 shares in the company, valued at approximately $968,935. This trade represents a 13.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,483 shares of company stock worth $763,214 in the last quarter. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in Rocky Brands in the 2nd quarter valued at $29,000. SG Americas Securities LLC acquired a new position in shares of Rocky Brands during the first quarter worth about $149,000. James Investment Research Inc. acquired a new position in shares of Rocky Brands during the first quarter worth about $211,000. Principal Financial Group Inc. purchased a new stake in shares of Rocky Brands in the first quarter worth about $233,000. Finally, Deutsche Bank AG purchased a new stake in shares of Rocky Brands in the second quarter worth about $278,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Rocky Brands

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. The company designs, develops, manufactures, and markets footwear for outdoor, work, western, military, public-safety, and lifestyle uses.

Its portfolio includes Rocky outdoor and work footwear, Georgia Boot work and western products, Durango western and lifestyle boots, and Lehigh Safety Shoe products. The company offers boots and shoes designed for activities and occupations requiring durability, protection, traction, and comfort, along with related apparel and accessories.

Founded in 1932 as the William Brooks Shoe Company, Rocky Brands has expanded from its Ohio manufacturing roots into a multichannel footwear business.