Rocky Brands (NASDAQ:RCKY) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Rocky Brands, Inc. (NASDAQ:RCKY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.23 and traded as high as $34.00. Rocky Brands shares last traded at $33.27, with a volume of 29,948 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on RCKY shares. Citigroup restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. Robert W. Baird set a $42.00 target price on Rocky Brands in a research report on Wednesday, October 29th. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Rocky Brands Stock Up 0.6%

The company has a market capitalization of $249.19 million, a P/E ratio of 12.14 and a beta of 2.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 2.74. The stock has a 50 day moving average price of $30.91 and a 200 day moving average price of $29.23.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.155 per share. The ex-dividend date was Monday, December 1st. This represents a $0.62 annualized dividend and a dividend yield of 1.9%. Rocky Brands’s dividend payout ratio is currently 22.63%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. increased its holdings in shares of Rocky Brands by 24.3% in the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. Vanguard Group Inc. increased its stake in Rocky Brands by 2.2% in the third quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker’s stock valued at $12,559,000 after acquiring an additional 8,892 shares during the last quarter. American Century Companies Inc. raised its position in Rocky Brands by 5.1% during the second quarter. American Century Companies Inc. now owns 247,352 shares of the textile maker’s stock valued at $5,489,000 after purchasing an additional 11,941 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Rocky Brands by 48.9% during the third quarter. Hillsdale Investment Management Inc. now owns 183,592 shares of the textile maker’s stock valued at $5,469,000 after purchasing an additional 60,330 shares in the last quarter. Finally, Crawford Investment Counsel Inc. lifted its stake in Rocky Brands by 0.7% during the third quarter. Crawford Investment Counsel Inc. now owns 182,142 shares of the textile maker’s stock worth $5,426,000 after purchasing an additional 1,261 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.