Rocky Brands (NASDAQ:RCKY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rocky Brands (NASDAQ:RCKY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also issued reports on the company. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Robert W. Baird increased their price target on shares of Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Rocky Brands currently has an average rating of “Hold” and a consensus target price of $56.00.

Rocky Brands Stock Up 4.0%

RCKY opened at $50.78 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The company’s 50-day moving average is $40.71 and its 200 day moving average is $38.89. Rocky Brands has a fifty-two week low of $25.08 and a fifty-two week high of $51.41. The firm has a market capitalization of $382.88 million, a P/E ratio of 13.29 and a beta of 2.35.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.44%. The business had revenue of $118.37 million during the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s payout ratio is currently 17.80%.

Insider Transactions at Rocky Brands

In related news, insider Curtis A. Loveland sold 3,000 shares of Rocky Brands stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.62, for a total value of $148,860.00. Following the completion of the sale, the insider owned 96,094 shares of the company’s stock, valued at approximately $4,768,184.28. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G Courtney Haning sold 3,000 shares of Rocky Brands stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value of $147,180.00. Following the completion of the sale, the director directly owned 19,750 shares of the company’s stock, valued at approximately $968,935. This trade represents a 13.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,011 shares of company stock worth $535,883 over the last 90 days. 7.60% of the stock is owned by insiders.

Institutional Trading of Rocky Brands

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG boosted its position 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 valued at $150,000 after acquiring an additional 464 shares during the period. NewEdge Advisors LLC increased its holdings in Rocky Brands by 5.4% during the 4th quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after acquiring an additional 598 shares during the period. First Trust Advisors LP lifted its stake in Rocky Brands by 2.8% in the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after purchasing an additional 655 shares in the last quarter. Invesco Ltd. lifted its stake in Rocky Brands by 5.4% in the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after purchasing an additional 781 shares in the last quarter. Finally, Aristides Capital LLC boosted its holdings in Rocky Brands by 3.3% in the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares during the period. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands News Roundup

Here are the key news stories impacting Rocky Brands this week:

• Positive Sentiment: Director Dwight Eric Smith purchased 500 shares for approximately $24,315, increasing his holdings by 3.16%. The purchase may modestly support investor confidence in Rocky Brands’ valuation and outlook. SEC filing for Dwight Eric Smith purchase
• Negative Sentiment: Several insiders sold shares after the stock’s recent rally: CEO Curtis A. Loveland sold 3,000 shares for $148,860; Director Tracie A. Winbigler sold 3,000 shares for $142,350; Director William L. Jordan sold 2,011 shares for $97,493; and Director G. Courtney Haning sold 3,000 shares for $147,180. Collectively, the sales totaled 11,011 shares and roughly $535,883, potentially creating a modest overhang or signaling that some insiders are taking profits near elevated price levels. SEC filing for Curtis A. Loveland sale SEC filing for Tracie A. Winbigler sale SEC filing for William L. Jordan sale SEC filing for G. Courtney Haning sale

About Rocky Brands

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.