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

Rocky Brands, Inc. (NASDAQ:RCKY) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.88 and traded as high as $39.90. Rocky Brands shares last traded at $39.67, with a volume of 25,411 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RCKY. Wall Street Zen lowered Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Rocky Brands currently has an average rating of “Hold” and a consensus price target of $42.00.

Rocky Brands Trading Up 1.1%

The firm has a market capitalization of $302.35 million, a PE ratio of 16.23 and a beta of 2.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The firm has a fifty day moving average of $38.73 and a 200 day moving average of $35.91.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $122.42 million. Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%.

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, June 1st. This is an increase from Rocky Brands’s previous quarterly dividend of $0.16. Rocky Brands’s dividend payout ratio (DPR) is 27.53%.

Institutional Investors Weigh In On Rocky Brands

Hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. raised its holdings in shares of Rocky Brands by 48.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 183,592 shares of the textile maker’s stock valued at $5,469,000 after buying an additional 60,330 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Rocky Brands during the 3rd quarter valued at about $1,240,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Rocky Brands by 42.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock valued at $2,398,000 after buying an additional 24,832 shares during the period. Deprince Race & Zollo Inc. raised its holdings in shares of Rocky Brands by 19.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock valued at $3,810,000 after buying an additional 21,028 shares during the period. Finally, LSV Asset Management increased its holdings in Rocky Brands by 160.1% during the 4th quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after purchasing an additional 90,103 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other 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.