Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.18 and traded as high as $40.24. Rocky Brands shares last traded at $39.38, with a volume of 33,847 shares traded.

Analyst Ratings Changes

RCKY has been the subject of a number of analyst reports. Wall Street Zen lowered 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 report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Rocky Brands presently has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands Trading Down 2.2%

The firm’s 50 day moving average is $37.37 and its 200 day moving average is $32.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.82 and a quick ratio of 0.93. The company has a market cap of $288.03 million, a PE ratio of 12.91 and a beta of 2.62.

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

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.62 annualized dividend and a yield of 1.6%. Rocky Brands’s dividend payout ratio (DPR) is currently 20.95%.

Hedge Funds Weigh In On Rocky Brands

Institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC purchased a new position in shares of Rocky Brands during the third quarter worth about $1,037,000. Aristides Capital LLC raised its stake in Rocky Brands by 52.6% in the second quarter. Aristides Capital LLC now owns 29,943 shares of the textile maker’s stock valued at $664,000 after purchasing an additional 10,317 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Rocky Brands by 48.9% during the third quarter. Hillsdale Investment Management Inc. now owns 183,592 shares of the textile maker’s stock valued at $5,469,000 after purchasing an additional 60,330 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Rocky Brands during the third quarter valued at approximately $1,772,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Rocky Brands in the 3rd quarter worth approximately $1,240,000. 75.06% of the stock is currently owned by institutional investors.

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.