Rocky Brands (NASDAQ:RCKY) Issues Quarterly Earnings Results

Rocky Brands (NASDAQ:RCKY) released its quarterly earnings data on Tuesday. The textile maker reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.26, FiscalAI reports. The business had revenue of $138.81 million for the quarter, compared to analyst estimates of $129.84 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%.

Rocky Brands Stock Down 2.5%

RCKY traded down $1.15 on Tuesday, hitting $44.57. 38,543 shares of the company were exchanged, compared to its average volume of 54,884. The company has a market cap of $333.92 million, a PE ratio of 11.67 and a beta of 2.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 2.97. Rocky Brands has a 12 month low of $27.22 and a 12 month high of $53.01. The stock’s fifty day moving average is $45.23 and its 200-day moving average is $40.76.

Rocky Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.68 annualized dividend and a yield of 1.5%. Rocky Brands’s payout ratio is 17.80%.

Analyst Upgrades and Downgrades

RCKY has been the topic of several recent analyst reports. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Weiss Ratings raised shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $50.00 price target on shares of Rocky Brands in a report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

Insiders Place Their Bets

In other Rocky Brands news, Director Tracie Winbigler sold 3,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director directly owned 14,246 shares in the company, valued at $675,972.70. The trade was a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jordan sold 2,011 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 21,940 shares in the company, valued at approximately $1,063,651.20. This represents a 8.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,483 shares of company stock worth $763,214 in the last three months. 7.60% of the stock is owned by corporate insiders.

About Rocky Brands

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. Founded in 1932, the company develops, manufactures, and markets work, outdoor, western, hunting, and military footwear, along with related apparel and accessories.

Its brand portfolio includes Rocky, Georgia Boot, Durango, and Lehigh Safety Shoe. Products are designed for applications such as construction, industrial work, farming, law enforcement, outdoor recreation, hunting, and everyday wear.