Rocky Brands (NASDAQ:RCKY) Stock Crosses Above 200-Day Moving Average – Here’s Why

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 $32.18 and traded as high as $40.24. Rocky Brands shares last traded at $39.38, with a volume of 33,847 shares trading hands.

Wall Street Analyst Weigh In

RCKY has been the subject of a number of research reports. Weiss Ratings downgraded shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Rocky Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Trading Up 0.6%

The stock’s fifty day moving average price is $37.12 and its 200 day moving average price is $32.18. The stock has a market cap of $296.93 million, a P/E ratio of 13.30 and a beta of 2.62. The company has a current ratio of 2.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.46. The company had revenue of $139.72 million during the quarter, compared to analysts’ expectations of $134.05 million. Rocky Brands had a net margin of 4.62% and a return on equity of 10.08%.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, March 2nd. Rocky Brands’s payout ratio is currently 20.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC purchased a new position in shares of Rocky Brands in the 3rd quarter worth about $1,037,000. Aristides Capital LLC grew its position in Rocky Brands by 52.6% during the 2nd quarter. Aristides Capital LLC now owns 29,943 shares of the textile maker’s stock valued at $664,000 after purchasing an additional 10,317 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Rocky Brands by 48.9% during the 3rd 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. Allspring Global Investments Holdings LLC bought a new stake in Rocky Brands during the 3rd quarter valued at about $1,772,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Rocky Brands in the third quarter worth about $1,240,000. Institutional investors own 75.06% of the company’s stock.

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.