Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.52 and traded as high as $38.40. Rocky Brands shares last traded at $36.69, with a volume of 84,943 shares traded.

Analyst Ratings Changes

Several analysts have commented on RCKY shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 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 assigned a Hold rating to the company. According to MarketBeat, Rocky Brands has a consensus rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Trading Down 4.6%

The firm’s 50-day moving average price is $38.74 and its 200-day moving average price is $35.52. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45. The company has a market cap of $276.64 million, a P/E ratio of 14.85 and a beta of 2.38.

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). Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The business had revenue of $124.40 million during the quarter, compared to the consensus estimate of $122.42 million.

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.17 per share. This is an increase from Rocky Brands’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Rocky Brands’s dividend payout ratio is presently 27.53%.

Hedge Funds Weigh In On Rocky Brands

Several hedge funds have recently bought and sold shares of the company. Deutsche Bank AG grew its stake in Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after acquiring an additional 464 shares in the last quarter. NewEdge Advisors LLC grew its stake in Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after acquiring an additional 598 shares in the last quarter. First Trust Advisors LP grew its stake in Rocky Brands by 2.8% during the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock valued at $695,000 after acquiring an additional 655 shares in the last quarter. Invesco Ltd. grew its stake in Rocky Brands by 5.4% during the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock valued at $448,000 after acquiring an additional 781 shares in the last quarter. Finally, Aristides Capital LLC grew its stake in Rocky Brands by 3.3% during the fourth quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after acquiring an additional 979 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

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.