Rocky Brands (NASDAQ:RCKY) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.52 and traded as high as $38.40. Rocky Brands shares last traded at $36.69, with a volume of 84,943 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.00.

Rocky Brands Price Performance

The stock has a market capitalization of $282.37 million, a PE ratio of 15.16 and a beta of 2.38. The firm’s 50 day simple moving average is $38.67 and its 200 day simple moving average is $35.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.The business had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $122.42 million.

Rocky Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Rocky Brands’s payout ratio is presently 27.53%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Rocky Brands in the fourth quarter worth $35,000. Strs Ohio purchased a new position in shares of Rocky Brands in the first quarter worth $92,000. BNP Paribas Financial Markets increased its stake in shares of Rocky Brands by 391.2% in the third 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 period. SG Americas Securities LLC purchased a new position in shares of Rocky Brands in the first quarter worth $149,000. Finally, Deutsche Bank AG increased its stake in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares during the period. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.