Rocky Brands (NASDAQ:RCKY) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

by · The Markets Daily

Rocky Brands, Inc. (NASDAQ:RCKY – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.41 and traded as high as $30.38. Rocky Brands shares last traded at $30.2450, with a volume of 7,911 shares trading hands.

Wall Street Analyst Weigh In

RCKY has been the subject of several analyst reports. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. BTIG Research reiterated 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

View Our Latest Analysis on Rocky Brands

Rocky Brands Price Performance

The company’s 50 day simple moving average is $29.69 and its 200 day simple moving average is $27.41. 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 stock has a market cap of $226.54 million, a P/E ratio of 11.04 and a beta of 2.64.

Rocky Brands (NASDAQ:RCKY – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%. The company had revenue of $122.54 million during the quarter, compared to analyst estimates of $122.92 million.

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, December 1st. Rocky Brands’s dividend payout ratio is 22.63%.

Insider Transactions at Rocky Brands

In other news, SVP Byron Wortham sold 6,600 shares of Rocky Brands stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Curtis A. Loveland sold 2,162 shares of the business’s stock in a transaction that occurred 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. In the last ninety days, insiders have sold 21,156 shares of company stock worth $643,824. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. BNP Paribas Financial Markets lifted its position in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares in the last quarter. Strs Ohio acquired a new stake in shares of Rocky Brands in the 1st quarter valued at about $92,000. Metis Global Partners LLC bought a new stake in shares of Rocky Brands in the third quarter valued at about $208,000. Lazard Asset Management LLC bought a new stake in shares of Rocky Brands in the second quarter valued at about $155,000. Finally, Man Group plc acquired a new position in shares of Rocky Brands during the third quarter worth about $230,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Company Profile

(Get Free Report)

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.

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