Rocky Brands (NASDAQ:RCKY) Announces Earnings Results, Beats Expectations By $0.46 EPS

Rocky Brands (NASDAQ:RCKY) posted its earnings results on Tuesday. The textile maker reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.46, FiscalAI reports. The company had revenue of $139.72 million for the quarter, compared to the consensus estimate of $134.05 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Price Performance

RCKY stock traded up $0.72 during trading on Tuesday, reaching $33.49. The company’s stock had a trading volume of 26,171 shares, compared to its average volume of 30,215. The company has a quick ratio of 0.88, a current ratio of 2.74 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average is $31.73 and its 200-day moving average is $30.00. The company has a market capitalization of $250.97 million, a P/E ratio of 12.22 and a beta of 2.72. Rocky Brands has a 1 year low of $11.93 and a 1 year high of $34.61.

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, March 2nd. Rocky Brands’s dividend payout ratio is presently 22.63%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RCKY shares. Wall Street Zen upgraded shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $42.00 target price on Rocky Brands in a report on Wednesday, October 29th. Two equities 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 currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Rocky Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its holdings in shares of Rocky Brands by 6.8% during the 1st 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 last quarter. Strs Ohio purchased a new stake in shares of Rocky Brands in the first quarter worth about $92,000. Geode Capital Management LLC boosted its stake in Rocky Brands by 0.8% during the second 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 during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Rocky Brands during the second quarter valued at approximately $572,000. Finally, First Trust Advisors LP grew its holdings 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 valued at $534,000 after buying an additional 963 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

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.