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

Rocky Brands, Inc. (NASDAQ:RCKY) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $36.39 and traded as high as $41.71. Rocky Brands shares last traded at $40.85, with a volume of 35,094 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on RCKY. Wall Street Zen cut Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One research 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The firm has a market capitalization of $308.01 million, a P/E ratio of 16.54 and a beta of 2.38. The stock’s 50 day moving average is $38.78 and its two-hundred day moving average is $36.39.

Rocky Brands (NASDAQ:RCKY) last announced 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). 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, June 1st. Rocky Brands’s dividend payout ratio is currently 27.53%.

Hedge Funds Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKY. Empowered Funds LLC increased 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 valued at $602,000 after acquiring an additional 2,205 shares during the last quarter. Strs Ohio bought a new position in Rocky Brands during the 1st quarter worth approximately $92,000. Geode Capital Management LLC grew its holdings in Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after purchasing an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Rocky Brands in the second quarter valued at approximately $572,000. Finally, First Trust Advisors LP increased its stake in Rocky Brands by 4.2% in the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after purchasing an additional 963 shares in the last quarter. Institutional investors 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.