Rocky Brands (NASDAQ:RCKY) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Rocky Brands, Inc. (NASDAQ:RCKY) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $36.39 and traded as high as $41.71. Rocky Brands shares last traded at $40.85, with a volume of 35,094 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rocky Brands has a consensus rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Stock Performance

The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $38.73 and a 200-day simple moving average of $36.47. The stock has a market capitalization of $306.50 million, a price-to-earnings ratio of 16.46 and a beta of 2.38.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $124.40 million for the quarter, compared to analyst estimates of $122.42 million. Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.17 per share. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s payout ratio is currently 27.53%.

Institutional Investors Weigh In On Rocky Brands

A number of large investors have recently bought and sold shares of RCKY. Empowered Funds LLC raised its holdings in shares of Rocky Brands by 6.8% during the first 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 during the period. Strs Ohio acquired a new stake in shares of Rocky Brands in the 1st quarter valued at about $92,000. Geode Capital Management LLC increased its position in Rocky Brands by 0.8% in the 2nd 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Rocky Brands in the 2nd quarter valued at about $572,000. Finally, First Trust Advisors LP raised its stake in Rocky Brands by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after buying an additional 963 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.