Rocky Brands, Inc. (NASDAQ:RCKY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) have been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $42.00.

RCKY has been the topic of several analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Robert W. Baird set a $42.00 price objective on 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rocky Brands in a report on Tuesday.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $30.70 on Friday. The company has a market capitalization of $230.07 million, a price-to-earnings ratio of 11.20 and a beta of 2.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76. Rocky Brands has a one year low of $11.93 and a one year high of $33.40. The company’s 50-day moving average is $29.16 and its 200 day moving average is $26.25.

Rocky Brands (NASDAQ:RCKY) last issued its 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. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%. The business had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $122.92 million.

Rocky Brands Dividend Announcement

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 $0.155 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.62 annualized dividend and a yield of 2.0%. Rocky Brands’s dividend payout ratio (DPR) is currently 22.63%.

Insider Activity at Rocky Brands

In related news, SVP Byron Wortham sold 6,600 shares of Rocky Brands stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total value of $197,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tracie A. Winbigler sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the sale, the director owned 6,978 shares of the company’s stock, valued at approximately $208,991.10. This trade represents a 41.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,156 shares of company stock worth $942,224. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Rocky Brands

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Rocky Brands during the 1st quarter valued at about $606,000. Charles Schwab Investment Management Inc. increased its holdings in Rocky Brands by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker’s stock valued at $367,000 after buying an additional 1,563 shares during the last quarter. Koss Olinger Consulting LLC purchased a new stake in Rocky Brands during the first quarter valued at approximately $476,000. Nuveen LLC bought a new position in Rocky Brands in the first quarter worth approximately $345,000. Finally, American Century Companies Inc. boosted its stake in shares of Rocky Brands by 10.0% during the 1st quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker’s stock worth $4,089,000 after acquiring an additional 21,420 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

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.