Rocky Brands (NASDAQ:RCKY) Shares Pass Above 200 Day Moving Average of $24.68

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.68 and traded as high as $27.34. Rocky Brands shares last traded at $26.51, with a volume of 20,425 shares.

Analyst Upgrades and Downgrades

RCKY has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Friday, April 5th. B. Riley boosted their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th.

Rocky Brands Stock Down 1.7 %

The stock has a 50 day moving average of $27.26 and a 200-day moving average of $24.68. The firm has a market capitalization of $196.70 million, a P/E ratio of 18.67 and a beta of 1.97. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 3.61.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $128.90 million. Research analysts predict that Rocky Brands, Inc. will post 1.96 earnings per share for the current fiscal year.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, March 1st. Rocky Brands’s dividend payout ratio is currently 43.66%.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Rocky Brands by 15.7% during the first quarter. FMR LLC now owns 1,047,631 shares of the textile maker’s stock valued at $24,169,000 after buying an additional 141,969 shares during the period. Portolan Capital Management LLC bought a new stake in shares of Rocky Brands during the first quarter valued at about $1,499,000. Manatuck Hill Partners LLC bought a new stake in shares of Rocky Brands during the third quarter valued at about $588,000. BlackRock Inc. increased its position in shares of Rocky Brands by 6.2% during the second quarter. BlackRock Inc. now owns 463,717 shares of the textile maker’s stock valued at $9,738,000 after buying an additional 26,884 shares during the period. Finally, Select Equity Group L.P. increased its position in shares of Rocky Brands by 51.4% during the fourth quarter. Select Equity Group L.P. now owns 63,176 shares of the textile maker’s stock valued at $1,492,000 after buying an additional 21,445 shares during the period. 75.06% of the stock is currently owned by institutional investors.

About Rocky Brands

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.