Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Rocky Brands, Inc. (NASDAQ:RCKY) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.56 and traded as high as $30.05. Rocky Brands shares last traded at $29.21, with a volume of 30,544 shares traded.

Analysts Set New Price Targets

RCKY has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research note on Monday. Robert W. Baird set a $42.00 target price on shares of Rocky Brands in a research report on Wednesday, October 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Finally, Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Trading Down 2.8%

The company’s fifty day simple moving average is $29.22 and its two-hundred day simple moving average is $26.56. The company has a market capitalization of $218.78 million, a price-to-earnings ratio of 10.66 and a beta of 2.64. The company has a quick ratio of 0.88, a current ratio of 2.74 and a debt-to-equity ratio of 0.53.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $122.54 million during the quarter, compared to the consensus estimate of $122.92 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Announces Dividend

The business also recently announced 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. This represents a $0.62 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, December 1st. Rocky Brands’s dividend payout ratio is presently 22.63%.

Insider Activity at Rocky Brands

In related news, SVP Byron Wortham sold 6,600 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Curtis A. Loveland sold 2,162 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $32.39, for a total transaction of $70,027.18. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,156 shares of company stock valued at $643,824. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocky Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Rocky Brands by 8.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker’s stock worth $367,000 after purchasing an additional 1,563 shares in the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Rocky Brands during the first quarter worth approximately $476,000. Nuveen LLC bought a new position in shares of Rocky Brands during the first quarter worth approximately $345,000. American Century Companies Inc. raised its position in shares of Rocky Brands by 10.0% in the first quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker’s stock valued at $4,089,000 after buying an additional 21,420 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Rocky Brands by 6.0% in the first quarter. Raymond James Financial Inc. now owns 448,490 shares of the textile maker’s stock valued at $7,790,000 after buying an additional 25,551 shares during the period. Institutional investors and hedge funds 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.