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

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.53 and traded as high as $28.21. Rocky Brands shares last traded at $27.84, with a volume of 120,367 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RCKY shares. Robert W. Baird upgraded Rocky Brands from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $40.00 in a research note on Tuesday, August 26th. Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rocky Brands in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Rocky Brands currently has an average rating of “Buy” and a consensus target price of $40.00.

Rocky Brands Stock Performance

The firm has a fifty day moving average of $28.69 and a 200-day moving average of $23.53. The stock has a market capitalization of $207.96 million, a price-to-earnings ratio of 11.23 and a beta of 2.44. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 29th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.31. The firm had revenue of $105.65 million during the quarter, compared to analysts’ expectations of $102.54 million. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.62 annualized dividend and a yield of 2.2%. Rocky Brands’s payout ratio is currently 25.00%.

Insider Transactions at Rocky Brands

In related news, Director William L. Jordan sold 5,000 shares of Rocky Brands stock in a transaction on Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the completion of the transaction, the director directly owned 18,683 shares of the company’s stock, valued at approximately $562,358.30. The trade was a 21.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael L. Finn sold 5,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $29.73, for a total value of $148,650.00. Following the completion of the sale, the director owned 31,395 shares in the company, valued at $933,373.35. This represents a 13.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock valued at $754,400. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Rocky Brands

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rocky Brands in the third quarter valued at $1,772,000. Deprince Race & Zollo Inc. lifted its position in shares of Rocky Brands by 19.5% in the third quarter. Deprince Race & Zollo Inc. now owns 108,862 shares of the textile maker’s stock valued at $3,243,000 after acquiring an additional 17,782 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Rocky Brands in the second quarter valued at $155,000. Raymond James Financial Inc. increased its stake in Rocky Brands by 24.3% in the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock valued at $12,371,000 after purchasing an additional 109,012 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Rocky Brands by 1,060.4% in the second quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock valued at $253,000 after purchasing an additional 10,424 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.