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

Rocky Brands, Inc. (NASDAQ:RCKY)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.76 and traded as high as $33.59. Rocky Brands shares last traded at $33.11, with a volume of 14,801 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Robert W. Baird set a $42.00 price target on Rocky Brands in a research note on Wednesday, October 29th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Finally, Citigroup restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Stock Up 0.4%

The firm has a market capitalization of $247.99 million, a price-to-earnings ratio of 12.08 and a beta of 2.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88. The business has a fifty day moving average price of $31.43 and a two-hundred day moving average price of $29.76.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. Panagora Asset Management Inc. lifted its position in Rocky Brands by 6.3% during the fourth quarter. Panagora Asset Management Inc. now owns 62,531 shares of the textile maker’s stock valued at $1,834,000 after purchasing an additional 3,696 shares during the period. Barclays PLC grew its position in Rocky Brands by 10.7% during the 4th quarter. Barclays PLC now owns 11,006 shares of the textile maker’s stock worth $323,000 after purchasing an additional 1,061 shares during the period. First Trust Advisors LP raised its stake in shares of Rocky Brands by 2.8% during the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock valued at $695,000 after buying an additional 655 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocky Brands by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,205 shares of the textile maker’s stock valued at $622,000 after buying an additional 1,191 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Rocky Brands by 38.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,915 shares of the textile maker’s stock valued at $232,000 after buying an additional 2,201 shares during the period. Institutional investors and hedge funds 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.