Brokerages Set Rocky Brands, Inc. (NASDAQ:RCKY) Target Price at $42.00

Rocky Brands, Inc. (NASDAQ:RCKY) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.00.

Several research analysts recently weighed in on the company. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 15th. Baird R W raised Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th.

Insider Buying and Selling at Rocky Brands

In related news, SVP Byron Wortham sold 6,600 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total transaction of $197,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis A. Loveland sold 2,162 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $32.39, for a total value of $70,027.18. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,156 shares of company stock valued at $643,824 in the last three months. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently modified their holdings of RCKY. Qube Research & Technologies Ltd grew its stake in shares of Rocky Brands by 76.3% in the third quarter. Qube Research & Technologies Ltd now owns 42,381 shares of the textile maker’s stock valued at $1,263,000 after buying an additional 18,337 shares in the last quarter. Millennium Management LLC acquired a new position in Rocky Brands during the 3rd quarter worth approximately $1,024,000. Crawford Investment Counsel Inc. boosted its holdings in Rocky Brands by 0.7% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 182,142 shares of the textile maker’s stock worth $5,426,000 after acquiring an additional 1,261 shares during the period. Bank of America Corp DE grew its position in Rocky Brands by 1,153.5% in the third quarter. Bank of America Corp DE now owns 41,803 shares of the textile maker’s stock valued at $1,245,000 after acquiring an additional 38,468 shares in the last quarter. Finally, Man Group plc acquired a new stake in Rocky Brands in the third quarter valued at approximately $230,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Trading Down 2.7%

Shares of RCKY stock opened at $29.87 on Thursday. The company has a market capitalization of $223.73 million, a price-to-earnings ratio of 10.90 and a beta of 2.64. The company has a current ratio of 2.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $29.47 and a 200 day moving average price of $27.25. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $33.40.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. The business had revenue of $122.54 million for the quarter, compared to analysts’ expectations of $122.92 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, December 1st. Rocky Brands’s payout ratio is currently 22.63%.

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.