Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Rocky Brands, Inc. (NASDAQ:RCKY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analysts Set New Price Targets

Several brokerages recently weighed in on RCKY. Weiss Ratings downgraded shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Trading Up 0.6%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 2.82. The firm has a market cap of $296.93 million, a PE ratio of 13.30 and a beta of 2.62. The stock has a 50-day simple moving average of $37.12 and a two-hundred day simple moving average of $32.18.

Rocky Brands (NASDAQ:RCKY) last announced 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. Rocky Brands had a net margin of 4.62% and a return on equity of 10.08%. The firm had revenue of $139.72 million for the quarter, compared to the consensus estimate of $134.05 million.

Rocky Brands Announces Dividend

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

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds have recently added to or reduced their stakes in RCKY. Empowered Funds LLC boosted its stake in shares of Rocky Brands by 6.8% in the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after buying an additional 2,205 shares during the last quarter. Strs Ohio purchased a new stake in Rocky Brands during the first quarter valued at $92,000. Geode Capital Management LLC lifted its holdings in Rocky Brands by 0.8% in the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after acquiring an additional 1,303 shares during the period. American Century Companies Inc. lifted its holdings in Rocky Brands by 5.1% in the second quarter. American Century Companies Inc. now owns 247,352 shares of the textile maker’s stock valued at $5,489,000 after acquiring an additional 11,941 shares during the period. Finally, Prudential Financial Inc. boosted its position in Rocky Brands by 2.9% in the second quarter. Prudential Financial Inc. now owns 28,445 shares of the textile maker’s stock worth $631,000 after purchasing an additional 800 shares during the last quarter. 75.06% of the stock is currently 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.