Rocky Brands, Inc. (NASDAQ:RCKY) Short Interest Down 12.6% in February

Rocky Brands, Inc. (NASDAQ:RCKY) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 139,190 shares, a drop of 12.6% from the February 12th total of 159,315 shares. Based on an average trading volume of 68,797 shares, the short-interest ratio is currently 2.0 days. Currently, 2.0% of the company’s shares are sold short. Currently, 2.0% of the company’s shares are sold short. Based on an average trading volume of 68,797 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RCKY. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands in the fourth quarter worth approximately $35,000. BNP Paribas Financial Markets increased its position in shares of Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares in the last quarter. Deutsche Bank AG raised its holdings in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after acquiring an additional 464 shares during the last quarter. Strs Ohio purchased a new position in Rocky Brands in the 1st quarter worth approximately $92,000. Finally, Metis Global Partners LLC bought a new position in Rocky Brands in the 3rd quarter valued at approximately $208,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings lowered Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.00.

Rocky Brands Stock Down 0.3%

Shares of NASDAQ:RCKY opened at $42.48 on Tuesday. The company has a current ratio of 2.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $35.92 and a two-hundred day simple moving average of $31.74. Rocky Brands has a 12-month low of $11.93 and a 12-month high of $48.70. The stock has a market capitalization of $320.30 million, a price-to-earnings ratio of 14.35 and a beta of 2.61.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, February 24th. The textile maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.46. The firm had revenue of $139.72 million for the quarter, compared to analysts’ expectations of $134.05 million. Rocky Brands had a return on equity of 10.08% and a net margin of 4.62%.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, March 2nd. Rocky Brands’s dividend payout ratio (DPR) is currently 20.95%.

About Rocky Brands

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.