Rocky Brands (NASDAQ:RCKY) Announces Earnings Results, Beats Expectations By $0.07 EPS

Rocky Brands (NASDAQ:RCKY) issued its quarterly earnings data on Tuesday. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07, Yahoo Finance reports. Rocky Brands had a net margin of 3.21% and a return on equity of 8.87%. The company had revenue of $98.26 million for the quarter.

Rocky Brands Price Performance

Shares of NASDAQ RCKY opened at $34.28 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.10 and a current ratio of 3.31. Rocky Brands has a one year low of $11.77 and a one year high of $40.14. The firm has a market capitalization of $254.36 million, a P/E ratio of 18.94 and a beta of 2.10. The company’s fifty day moving average is $35.97 and its two-hundred day moving average is $31.17.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.81%. The ex-dividend date was Friday, May 31st. Rocky Brands’s payout ratio is 34.25%.

Insider Activity

In other news, insider Curtis A. Loveland sold 2,515 shares of Rocky Brands stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.56, for a total transaction of $89,433.40. Following the completion of the sale, the insider now directly owns 96,783 shares in the company, valued at approximately $3,441,603.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robert Burton Jr. Moore sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $38.82, for a total value of $349,380.00. Following the sale, the director now owns 29,517 shares of the company’s stock, valued at approximately $1,145,849.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Curtis A. Loveland sold 2,515 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.56, for a total value of $89,433.40. Following the completion of the sale, the insider now owns 96,783 shares in the company, valued at $3,441,603.48. The disclosure for this sale can be found here. Insiders sold 15,515 shares of company stock worth $586,813 in the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RCKY. Robert W. Baird boosted their price target on Rocky Brands from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th.

Rocky Brands Company Profile

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.