Rocky Brands (NASDAQ:RCKY) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $41.60 and traded as high as $45.69. Rocky Brands shares last traded at $44.69, with a volume of 78,779 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RCKY shares. Robert W. Baird reaffirmed a “neutral” rating and issued 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 report on Thursday, August 6th. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Rocky Brands currently has an average rating of “Hold” and an average price target of $50.00.

Rocky Brands Price Performance

The company has a market capitalization of $343.49 million, a price-to-earnings ratio of 12.01 and a beta of 2.40. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $45.64 and a 200 day moving average price of $41.62.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $1.55. The firm had revenue of $118.37 million during the quarter, compared to analyst estimates of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 1st. Rocky Brands’s payout ratio is 17.80%.

Insider Buying and Selling at Rocky Brands

In other news, insider Curtis A. Loveland sold 3,483 shares of Rocky Brands stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total value of $176,030.82. Following the completion of the transaction, the insider owned 92,610 shares of the company’s stock, valued at $4,680,509.40. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William L. Jordan sold 2,011 shares of Rocky Brands stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.48, for a total value of $97,493.28. Following the transaction, the director owned 21,940 shares of the company’s stock, valued at $1,063,651.20. The trade was a 8.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,483 shares of company stock valued at $763,214 over the last quarter. Insiders own 7.60% of the company’s stock.

Institutional Trading of Rocky Brands

Several institutional investors have recently added to or reduced their stakes in RCKY. Legal & General Group Plc bought a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $29,000. SG Americas Securities LLC bought a new stake in Rocky Brands during the 1st quarter worth approximately $149,000. James Investment Research Inc. acquired a new position in Rocky Brands in the 1st quarter valued at approximately $211,000. Principal Financial Group Inc. bought a new position in shares of Rocky Brands during the first quarter valued at $233,000. Finally, Deutsche Bank AG acquired a new position in shares of Rocky Brands during the second quarter worth $278,000. 75.06% of the stock is currently owned by institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. The company designs, develops, manufactures, and markets footwear for outdoor, work, western, military, public-safety, and lifestyle uses.

Its portfolio includes Rocky outdoor and work footwear, Georgia Boot work and western products, Durango western and lifestyle boots, and Lehigh Safety Shoe products. The company offers boots and shoes designed for activities and occupations requiring durability, protection, traction, and comfort, along with related apparel and accessories.

Founded in 1932 as the William Brooks Shoe Company, Rocky Brands has expanded from its Ohio manufacturing roots into a multichannel footwear business.