Rocky Brands (NASDAQ:RCKY) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Rocky Brands, Inc. (NASDAQ:RCKY) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.58 and traded as high as $23.63. Rocky Brands shares last traded at $23.32, with a volume of 47,179 shares changing hands.

Wall Street Analyst Weigh In

RCKY has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Rocky Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Rocky Brands from a “buy” rating to a “hold” rating in a report on Monday, May 12th.

Rocky Brands Stock Performance

The company has a market capitalization of $173.99 million, a PE ratio of 13.10 and a beta of 2.36. The firm has a 50-day moving average of $17.58 and a two-hundred day moving average of $20.58. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The company had revenue of $114.07 million during the quarter, compared to analysts’ expectations of $112.67 million.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, June 2nd. Rocky Brands’s dividend payout ratio is currently 33.88%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCKY. Empowered Funds LLC increased its stake in Rocky Brands by 4.8% during the fourth quarter. Empowered Funds LLC now owns 32,467 shares of the textile maker’s stock worth $740,000 after purchasing an additional 1,473 shares during the period. Waterfront Wealth Inc. purchased a new stake in Rocky Brands during the 4th quarter worth approximately $431,000. Bank of New York Mellon Corp lifted its holdings in Rocky Brands by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker’s stock worth $1,737,000 after buying an additional 10,584 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Rocky Brands by 9.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock valued at $210,000 after buying an additional 820 shares during the period. Finally, Bailard Inc. purchased a new position in Rocky Brands in the 4th quarter valued at approximately $277,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.