Rocky Brands (NASDAQ:RCKY) Shares Cross Above 200 Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.41 and traded as high as $30.38. Rocky Brands shares last traded at $30.2450, with a volume of 7,911 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RCKY. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a research report on Wednesday, October 29th. Citigroup restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Rocky Brands Stock Performance

The company has a current ratio of 2.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The company has a market cap of $224.85 million, a P/E ratio of 10.96 and a beta of 2.64. The company has a 50 day moving average price of $29.75 and a 200-day moving average price of $27.46.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $122.54 million for the quarter, compared to analysts’ expectations 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, December 1st. Rocky Brands’s dividend payout ratio is currently 22.63%.

Insiders Place Their Bets

In other news, insider Curtis A. Loveland sold 2,162 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $32.39, for a total transaction of $70,027.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Byron Wortham sold 6,600 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,156 shares of company stock worth $643,824. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently bought and sold shares of RCKY. BNP Paribas Financial Markets raised its holdings in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after buying an additional 2,903 shares during the last quarter. Strs Ohio bought a new position in shares of Rocky Brands during the first quarter valued at $92,000. Metis Global Partners LLC bought a new position in shares of Rocky Brands during the third quarter valued at $208,000. Lazard Asset Management LLC acquired a new position in shares of Rocky Brands during the second quarter worth $155,000. Finally, Man Group plc bought a new stake in shares of Rocky Brands in the third quarter worth $230,000. 75.06% of the stock is currently owned by 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.