Rocky Brands (NASDAQ:RCKY) Share Price Passes Above 200 Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.73 and traded as high as $45.44. Rocky Brands shares last traded at $45.28, with a volume of 41,006 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on the company. Robert W. Baird increased their target price on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Rocky Brands Stock Performance

The stock has a 50 day moving average of $43.79 and a 200 day moving average of $40.73. The company has a quick ratio of 1.12, a current ratio of 2.97 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $339.15 million, a price-to-earnings ratio of 11.85 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The business had revenue of $118.37 million during the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Rocky Brands’s dividend payout ratio is currently 17.80%.

Insider Activity

In related news, Director William L. Jordan sold 989 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $51.87, for a total value of $51,299.43. Following the transaction, the director owned 20,951 shares in the company, valued at $1,086,728.37. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis A. Loveland sold 3,483 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total transaction of $176,030.82. Following the sale, the insider directly owned 92,610 shares in the company, valued at $4,680,509.40. This trade represents a 3.62% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,483 shares of company stock valued at $763,214. 7.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Rocky Brands during the second quarter worth $1,315,000. Sei Investments Co. bought a new stake in Rocky Brands in the first quarter valued at $1,153,000. Aristides Capital LLC raised its holdings in shares of Rocky Brands by 264.6% during the first quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock valued at $4,365,000 after purchasing an additional 81,822 shares during the period. Renaissance Technologies LLC boosted its position in shares of Rocky Brands by 39.1% during the 1st quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker’s stock worth $3,234,000 after purchasing an additional 23,500 shares in the last quarter. Finally, Tieton Capital Management LLC acquired a new stake in shares of Rocky Brands in the 2nd quarter valued at about $4,000,000. 75.06% of the stock is owned by institutional investors and hedge funds.

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.