Rocky Brands, Inc. (NASDAQ:RCKY) Short Interest Down 12.6% in February

Rocky Brands, Inc. (NASDAQ:RCKY) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 139,190 shares, a drop of 12.6% from the February 12th total of 159,315 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 68,797 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 68,797 shares, the short-interest ratio is presently 2.0 days. Approximately 2.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

RCKY has been the topic of a number of research analyst reports. Wall Street Zen downgraded Rocky Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings cut Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $42.48 on Tuesday. The stock has a 50-day simple moving average of $35.92 and a two-hundred day simple moving average of $31.74. The firm has a market capitalization of $320.30 million, a P/E ratio of 14.35 and a beta of 2.61. Rocky Brands has a fifty-two week low of $11.93 and a fifty-two week high of $48.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 2.82.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, February 24th. The textile maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.46. The firm had revenue of $139.72 million for the quarter, compared to the consensus estimate of $134.05 million. Rocky Brands had a return on equity of 10.08% and a net margin of 4.62%.

Rocky Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.155 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.5%. Rocky Brands’s payout ratio is presently 20.95%.

Institutional Investors Weigh In On Rocky Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after purchasing an additional 2,205 shares in the last quarter. Strs Ohio purchased a new stake in Rocky Brands during the first quarter worth $92,000. Los Angeles Capital Management LLC purchased a new stake in Rocky Brands during the second quarter worth $323,000. Geode Capital Management LLC grew its position 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 buying an additional 1,303 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in Rocky Brands by 128.5% during the second quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker’s stock valued at $2,735,000 after buying an additional 69,313 shares during the period. Institutional investors and hedge funds 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.