Rocky Brands, Inc. (NASDAQ:RCKY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $42.00.

Several research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a research note on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on Rocky Brands in a research report on Wednesday, October 29th. Wall Street Zen downgraded Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th.

Rocky Brands Stock Down 2.0%

RCKY opened at $32.35 on Monday. The company has a market capitalization of $242.30 million, a PE ratio of 11.81 and a beta of 2.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88. Rocky Brands has a fifty-two week low of $11.93 and a fifty-two week high of $33.53. The business has a 50-day moving average of $30.15 and a 200-day moving average of $28.42.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $122.54 million for the quarter, compared to the consensus estimate of $122.92 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, December 1st. Rocky Brands’s payout ratio is presently 22.63%.

Insider Buying and Selling at Rocky Brands

In other Rocky Brands news, insider Curtis A. Loveland sold 2,162 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $32.39, for a total transaction of $70,027.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Byron Wortham sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,156 shares of company stock valued at $643,824. 5.10% of the stock is owned by insiders.

Institutional Trading of Rocky Brands

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Rocky Brands in the 1st quarter valued at approximately $92,000. BNP Paribas Financial Markets boosted its position 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 valued at $109,000 after acquiring an additional 2,903 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Rocky Brands in the second quarter worth $155,000. Metis Global Partners LLC bought a new position in Rocky Brands during the third quarter worth $208,000. Finally, Jump Financial LLC acquired a new position in Rocky Brands during the 2nd quarter valued at $208,000. Institutional investors own 75.06% of the company’s stock.

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.