Rocky Brands (NASDAQ:RCKY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Robert W. Baird boosted their price target on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $47.45 on Friday. The business’s 50-day moving average price is $42.02 and its two-hundred day moving average price is $39.59. Rocky Brands has a twelve month low of $25.76 and a twelve month high of $53.01. The stock has a market cap of $355.40 million, a P/E ratio of 12.42 and a beta of 2.36. The company has a quick ratio of 1.12, a current ratio of 2.97 and a debt-to-equity ratio of 0.43.

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

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.17 per share. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Rocky Brands’s dividend payout ratio is currently 17.80%.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director G Courtney Haning sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.06, for a total transaction of $147,180.00. Following the transaction, the director directly owned 19,750 shares in the company, valued at $968,935. This trade represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William L. Jordan sold 2,011 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.48, for a total transaction of $97,493.28. Following the transaction, the director owned 21,940 shares in the company, valued at $1,063,651.20. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,483 shares of company stock valued at $763,214. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocky Brands

Institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after acquiring an additional 464 shares during the period. NewEdge Advisors LLC grew its stake in shares of Rocky Brands by 5.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after purchasing an additional 598 shares during the last quarter. First Trust Advisors LP increased its holdings in Rocky Brands by 2.8% during the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock valued at $695,000 after purchasing an additional 655 shares during the period. Invesco Ltd. raised its position in Rocky Brands by 5.4% during the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock valued at $448,000 after purchasing an additional 781 shares during the last quarter. Finally, Aristides Capital LLC lifted its holdings in Rocky Brands by 3.3% in the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock worth $907,000 after buying an additional 979 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

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.