Rocky Brands (NASDAQ:RCKY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a strong-buy rating in a report issued on Sunday.

A number of other equities research analysts have also commented on the company. Robert W. Baird set a $42.00 price objective on Rocky Brands in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Trading Up 2.5%

NASDAQ RCKY opened at $34.01 on Friday. The firm’s 50 day moving average price is $30.60 and its two-hundred day moving average price is $28.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 2.74. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $34.36. The stock has a market cap of $254.73 million, a price-to-earnings ratio of 12.41 and a beta of 2.67.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The business had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $122.92 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.155 per share. The ex-dividend date was Monday, December 1st. This represents a $0.62 annualized dividend and a dividend yield of 1.8%. Rocky Brands’s dividend payout ratio is 22.63%.

Insider Buying and Selling at Rocky Brands

In other Rocky Brands news, insider Curtis A. Loveland sold 2,162 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $32.39, for a total transaction of $70,027.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Byron Wortham sold 6,600 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 21,156 shares of company stock valued at $643,824. 5.10% of the stock is owned by company insiders.

Institutional Trading of Rocky Brands

Several institutional investors have recently modified their holdings of RCKY. State of Alaska Department of Revenue acquired a new stake in Rocky Brands during the fourth quarter valued at approximately $35,000. Deprince Race & Zollo Inc. lifted its position in Rocky Brands by 19.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock valued at $3,810,000 after purchasing an additional 21,028 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Rocky Brands by 42.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock valued at $2,398,000 after purchasing an additional 24,832 shares during the period. JPMorgan Chase & Co. raised its position in shares of Rocky Brands by 285.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,220 shares of the textile maker’s stock valued at $394,000 after acquiring an additional 9,787 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Rocky Brands by 76.3% during the third quarter. Qube Research & Technologies Ltd now owns 42,381 shares of the textile maker’s stock worth $1,263,000 after acquiring an additional 18,337 shares in the last quarter. 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.