Rocky Brands (NASDAQ:RCKY) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $35.17 and traded as high as $36.99. Rocky Brands shares last traded at $36.91, with a volume of 56,514 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on RCKY. Weiss Ratings lowered 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 lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rocky Brands currently has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands Price Performance

The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a market cap of $278.34 million, a price-to-earnings ratio of 14.94 and a beta of 2.39. The company’s 50-day moving average is $39.04 and its 200-day moving average is $35.17.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $124.40 million for the quarter, compared to analyst estimates of $122.42 million. Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.

Rocky Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.17 per share. The ex-dividend date is Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.16. Rocky Brands’s dividend payout ratio (DPR) is 27.53%.

Institutional Trading of Rocky Brands

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Rocky Brands during the 4th quarter worth approximately $35,000. BNP Paribas Financial Markets lifted its stake in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after purchasing an additional 2,903 shares during the last quarter. SG Americas Securities LLC bought a new position in Rocky Brands in the 1st quarter valued at approximately $149,000. Deutsche Bank AG lifted its stake in Rocky Brands by 10.0% in the 4th 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 last quarter. Finally, Strs Ohio bought a new position in Rocky Brands in the 1st quarter valued at approximately $92,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.