Rocky Brands (NASDAQ:RCKY) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.86 and traded as high as $29.11. Rocky Brands shares last traded at $27.97, with a volume of 35,088 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RCKY shares. Weiss Ratings restated a “hold (c)” rating on shares of Rocky Brands in a research note on Saturday, September 27th. Robert W. Baird upgraded Rocky Brands from a “neutral” rating to an “outperform” rating and raised their target price for the company from $30.00 to $40.00 in a research note on Tuesday, August 26th. Finally, Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Rocky Brands has an average rating of “Buy” and a consensus price target of $40.00.

Rocky Brands Stock Performance

The stock has a 50-day moving average of $28.50 and a 200 day moving average of $22.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. The stock has a market capitalization of $208.94 million, a price-to-earnings ratio of 11.28 and a beta of 2.44.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, July 29th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.31. The firm had revenue of $105.65 million during the quarter, compared to analyst estimates of $102.54 million. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio (DPR) is presently 25.00%.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director William L. Jordan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the transaction, the director owned 18,683 shares in the company, valued at approximately $562,358.30. This trade represents a 21.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tracie A. Winbigler sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director owned 6,978 shares in the company, valued at approximately $208,991.10. This trade represents a 41.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $754,400 in the last three months. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKY. Raymond James Financial Inc. boosted its holdings in Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Rocky Brands by 686.0% during the second quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock worth $1,898,000 after buying an additional 74,668 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Rocky Brands by 128.5% during the second quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker’s stock worth $2,735,000 after buying an additional 69,313 shares during the last quarter. GSA Capital Partners LLP bought a new position in Rocky Brands during the first quarter worth about $606,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of Rocky Brands during the 1st quarter valued at about $476,000. Institutional investors own 75.06% of the company’s stock.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.