Rocky Brands Inc. (RCKY) Set to Announce Earnings on Wednesday
Rocky Brands Inc. (NASDAQ:RCKY) is scheduled to announce its earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.17 per share for the quarter.
Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.24 by $0.47. Rocky Brands had a net margin of 0.48% and a return on equity of 0.88%. The business earned $62.60 million during the quarter, compared to the consensus estimate of $72.42 million. On average, analysts expect Rocky Brands to post $0.24 EPS for the current fiscal year and $0.9 EPS for the next fiscal year.
Shares of Rocky Brands Inc. (NASDAQ:RCKY) opened at 10.225 on Tuesday. Rocky Brands Inc. has a 12-month low of $9.67 and a 12-month high of $16.00. The company has a market cap of $76.52 million, a price-to-earnings ratio of 63.509 and a beta of 0.87. The stock has a 50 day moving average of $10.43 and a 200 day moving average of $11.34.
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A number of brokerages have recently commented on RCKY. B. Riley reiterated a “buy” rating and issued a $14.00 target price on shares of Rocky Brands in a research report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Rocky Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, Robert W. Baird raised their price objective on shares of Rocky Brands from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th.
In other news, insider Curtis A. Loveland acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average cost of $10.30 per share, for a total transaction of $25,750.00. Following the completion of the transaction, the insider now owns 80,153 shares in the company, valued at $825,575.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glen E. Corlett acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were purchased at an average price of $10.70 per share, with a total value of $53,500.00. Following the completion of the transaction, the director now owns 23,692 shares of the company’s stock, valued at approximately $253,504.40. The disclosure for this purchase can be found here. Corporate insiders own 8.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in shares of Rocky Brands by 377.8% in the second quarter. Nationwide Fund Advisors now owns 9,232 shares of the company’s stock valued at $105,000 after buying an additional 7,300 shares during the period. Eagle Global Advisors LLC bought a new position in shares of Rocky Brands during the second quarter valued at $118,000. TFS Capital LLC bought a new position in shares of Rocky Brands during the second quarter valued at $135,000. Franklin Resources Inc. raised its position in shares of Rocky Brands by 790.3% in the second quarter. Franklin Resources Inc. now owns 138,000 shares of the company’s stock valued at $1,576,000 after buying an additional 122,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Rocky Brands by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 641,036 shares of the company’s stock valued at $7,321,000 after buying an additional 22,456 shares during the period. Hedge funds and other institutional investors own 49.19% of the company’s stock.
Rocky Brands Company Profile
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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