Rocky Brands (NASDAQ:RCKY) Stock Breaks Above 200-Day Moving Average – Should You Sell?

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 $41.80 and traded as high as $46.04. Rocky Brands shares last traded at $45.42, with a volume of 23,366 shares changing hands.

Analyst Upgrades and Downgrades

RCKY has been the topic of several research analyst reports. Robert W. Baird restated a “neutral” rating and set a $50.00 target price on shares of Rocky Brands in a research report on Monday, September 14th. 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. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Rocky Brands Stock Down 1.1%

The firm has a market capitalization of $336.53 million, a PE ratio of 11.76 and a beta of 2.40. The firm’s 50-day moving average is $45.72 and its 200 day moving average is $41.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 2.97.

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 the consensus estimate of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The firm had revenue of $118.37 million during the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Dividend Announcement

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

Insider Buying and Selling

In other Rocky Brands news, insider Curtis A. Loveland sold 3,483 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total transaction of $176,030.82. Following the completion of the transaction, the insider owned 92,610 shares of the company’s stock, valued at approximately $4,680,509.40. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director G Haning sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,483 shares of company stock valued at $763,214. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Rocky Brands

Large investors have recently made changes to their positions in the stock. Yarger Wealth Strategies LLC lifted its holdings in Rocky Brands by 6.0% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 9,387 shares of the textile maker’s stock valued at $377,000 after purchasing an additional 529 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Rocky Brands in the second quarter valued at approximately $2,219,000. Bank of America Corp DE acquired a new position in shares of Rocky Brands in the second quarter valued at approximately $287,000. Legal & General Group Plc purchased a new position in shares of Rocky Brands during the second quarter valued at approximately $29,000. Finally, Algert Global LLC lifted its stake in shares of Rocky Brands by 48.5% during the second quarter. Algert Global LLC now owns 52,405 shares of the textile maker’s stock valued at $2,161,000 after buying an additional 17,111 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Rocky Brands

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. Founded in 1932, the company designs, develops, manufactures and markets footwear and related products for work, outdoor, western, duty and lifestyle applications.

Its portfolio includes Rocky outdoor and work boots, Georgia Boot work and western footwear, Durango western and lifestyle boots, and Lehigh safety footwear. Products are sold through independent retailers, national retailers, e-commerce platforms and the company’s own direct-to-consumer channels.