Rocky Brands (NASDAQ:RCKY) Share Price Passes Above 200 Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.73 and traded as high as $45.44. Rocky Brands shares last traded at $45.28, with a volume of 41,006 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RCKY shares. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird upped their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Rocky Brands has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Rocky Brands Price Performance

The stock has a market capitalization of $339.15 million, a P/E ratio of 11.85 and a beta of 2.36. The business has a fifty day simple moving average of $43.79 and a 200 day simple moving average of $40.73. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. The company had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Rocky Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 annualized dividend and a yield of 1.5%. Rocky Brands’s dividend payout ratio (DPR) is 17.80%.

Insider Buying and Selling

In other Rocky Brands news, Director G Courtney Haning sold 3,000 shares of Rocky Brands stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $49.06, for a total transaction of $147,180.00. Following the transaction, the director directly owned 19,750 shares of the company’s stock, valued at $968,935. The trade was a 13.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William L. Jordan sold 2,011 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $48.48, for a total transaction of $97,493.28. Following the completion of the sale, the director owned 21,940 shares of the company’s stock, valued at approximately $1,063,651.20. The trade was a 8.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,483 shares of company stock valued at $763,214 in the last 90 days. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Rocky Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Rocky Brands in the 2nd quarter valued at $21,559,000. Raymond James Financial Inc. boosted its stake in Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock valued at $12,371,000 after buying an additional 109,012 shares during the period. Tieton Capital Management LLC purchased a new position in Rocky Brands during the second quarter worth about $4,000,000. LSV Asset Management increased its stake in Rocky Brands by 160.1% in the 4th quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after acquiring an additional 90,103 shares during the last quarter. Finally, Aristides Capital LLC increased its stake in Rocky Brands by 264.6% in the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after acquiring an additional 81,822 shares during the last quarter. Hedge funds and other 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.