Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.88 and traded as high as $39.90. Rocky Brands shares last traded at $39.67, with a volume of 25,411 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Rocky Brands Stock Up 2.9%

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 stock has a market capitalization of $299.11 million, a PE ratio of 16.06 and a beta of 2.38. The stock’s fifty day simple moving average is $38.70 and its 200-day simple moving average is $35.88.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, April 28th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $124.40 million for the quarter, compared to analysts’ expectations 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.17 dividend. This is an increase from Rocky Brands’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. Rocky Brands’s payout ratio is presently 27.53%.

Hedge Funds Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. State of Alaska Department of Revenue purchased a new position in shares of Rocky Brands in the 4th quarter worth about $35,000. Strs Ohio purchased a new position in shares of Rocky Brands in the 1st quarter worth about $92,000. BNP Paribas Financial Markets boosted its holdings in shares of Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after buying an additional 2,903 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocky Brands in the 1st quarter worth about $149,000. Finally, Deutsche Bank AG boosted its holdings in shares of Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

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.