Rocky Brands, Inc. (NASDAQ:RCKY) Receives $42.00 Average Price Target from Brokerages

Rocky Brands, Inc. (NASDAQ:RCKY) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.00.

Several research analysts have weighed in on RCKY shares. Baird R W upgraded shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on Rocky Brands in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rocky Brands in a research note on Wednesday, November 19th.

Rocky Brands Stock Up 3.2%

Shares of NASDAQ:RCKY opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76. Rocky Brands has a 52-week low of $11.93 and a 52-week high of $33.40. The business’s 50 day simple moving average is $29.14 and its two-hundred day simple moving average is $26.19. The firm has a market cap of $229.54 million, a P/E ratio of 11.18 and a beta of 2.49.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. Rocky Brands had a return on equity of 11.15% and a net margin of 4.37%.The firm had revenue of $122.54 million during the quarter, compared to the consensus estimate of $122.92 million.

Rocky Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.155 per share. The ex-dividend date is Monday, December 1st. This represents a $0.62 annualized dividend and a yield of 2.0%. Rocky Brands’s dividend payout ratio is 22.63%.

Insiders Place Their Bets

In other news, Director William L. Jordan sold 5,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $30.10, for a total value of $150,500.00. Following the completion of the sale, the director owned 18,683 shares in the company, valued at $562,358.30. This represents a 21.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Finn sold 5,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the completion of the sale, the director owned 31,395 shares of the company’s stock, valued at approximately $933,373.35. This represents a 13.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,156 shares of company stock worth $1,243,224 in the last three months. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently modified their holdings of RCKY. Strs Ohio bought a new position in shares of Rocky Brands in the first quarter valued at approximately $92,000. BNP Paribas Financial Markets grew its stake in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after purchasing an additional 2,903 shares during the period. Lazard Asset Management LLC bought a new position in Rocky Brands in the 2nd quarter valued at $155,000. Metis Global Partners LLC purchased a new stake in shares of Rocky Brands during the 3rd quarter valued at $208,000. Finally, Jump Financial LLC bought a new stake in shares of Rocky Brands during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

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.