Rocky Brands, Inc. (NASDAQ:RCKY) Receives $40.00 Consensus Price Target from Analysts

Rocky Brands, Inc. (NASDAQ:RCKY) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $42.00.

RCKY has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Rocky Brands in a research report on Wednesday, October 8th. Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Robert W. Baird set a $42.00 target price on shares of Rocky Brands in a report on Wednesday. Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday.

Insider Buying and Selling at Rocky Brands

In other news, Director Tracie A. Winbigler sold 5,000 shares of Rocky Brands stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director owned 6,978 shares of the company’s stock, valued at $208,991.10. The trade was a 41.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Courtney Haning sold 5,000 shares of Rocky Brands stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total transaction of $155,000.00. Following the completion of the transaction, the director directly owned 19,482 shares in the company, valued at approximately $603,942. The trade was a 20.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 25,000 shares of company stock valued at $754,400 in the last 90 days. Insiders own 5.10% of the company’s stock.

Institutional Trading of Rocky Brands

A number of institutional investors have recently bought and sold shares of RCKY. Strs Ohio acquired a new stake in Rocky Brands in the 1st quarter worth approximately $92,000. Lazard Asset Management LLC purchased a new position in shares of Rocky Brands during the 2nd quarter valued at approximately $155,000. Jump Financial LLC purchased a new position in shares of Rocky Brands during the 2nd quarter valued at approximately $208,000. Trexquant Investment LP acquired a new stake in Rocky Brands in the 1st quarter valued at $229,000. Finally, NewEdge Advisors LLC grew its stake in Rocky Brands by 1,060.4% in the 2nd quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock valued at $253,000 after acquiring an additional 10,424 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $28.19 on Wednesday. The company has a 50 day moving average price of $29.10 and a 200-day moving average price of $24.41. Rocky Brands has a 52 week low of $11.93 and a 52 week high of $31.38. The firm has a market capitalization of $210.52 million, a PE ratio of 10.29 and a beta of 2.44. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $122.50 million during the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio is presently 22.63%.

About Rocky Brands

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.