Rocky Brands (NASDAQ:RCKY) Shares Cross Above 200 Day Moving Average – Should You Sell?

Rocky Brands, Inc. (NASDAQ:RCKY) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $32.55 and traded as high as $39.66. Rocky Brands shares last traded at $38.67, with a volume of 31,753 shares trading hands.

Analyst Ratings Changes

RCKY has been the subject of several analyst reports. Weiss Ratings lowered shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Wall Street Zen downgraded shares of 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Rocky Brands presently has an average rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Stock Down 0.1%

The company has a 50-day simple moving average of $37.82 and a 200 day simple moving average of $32.55. The company has a market cap of $291.57 million, a P/E ratio of 13.06 and a beta of 2.58. 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 released its earnings results on Tuesday, February 24th. The textile maker reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.46. The business had revenue of $139.72 million during the quarter, compared to the consensus estimate of $134.05 million. Rocky Brands had a return on equity of 10.08% and a net margin of 4.62%.

Rocky Brands Announces Dividend

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

Institutional Investors Weigh In On Rocky Brands

Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Rocky Brands during the fourth quarter worth approximately $35,000. BNP Paribas Financial Markets raised its stake in shares of Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 464 shares during the period. Strs Ohio bought a new position in Rocky Brands in the first quarter worth approximately $92,000. Finally, Metis Global Partners LLC bought a new position in Rocky Brands in the third quarter worth approximately $208,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

About Rocky Brands

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.