Rocky Brands (NASDAQ:RCKY) Posts Quarterly Earnings Results

by · The Markets Daily

Rocky Brands (NASDAQ:RCKY – Get Free Report) released its earnings results on Tuesday. The textile maker reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.46, FiscalAI reports. The business had revenue of $139.72 million for the quarter, compared to the consensus estimate of $134.05 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%.

Rocky Brands Stock Up 2.2%

Shares of Rocky Brands stock traded up $0.72 during trading on Tuesday, hitting $33.49. 19,569 shares of the stock traded hands, compared to its average volume of 30,003. The stock has a market cap of $250.97 million, a P/E ratio of 12.22 and a beta of 2.72. The company has a fifty day moving average price of $31.73 and a two-hundred day moving average price of $30.00. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $34.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 2.74.

Rocky Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird set a $42.00 price objective on shares of Rocky Brands in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 25th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Get Our Latest Report on Rocky Brands

Institutional Trading of Rocky Brands

A number of institutional investors have recently added to or reduced their stakes in RCKY. JPMorgan Chase & Co. raised its holdings in Rocky Brands by 285.1% during the third quarter. JPMorgan Chase & Co. now owns 13,220 shares of the textile maker’s stock valued at $394,000 after buying an additional 9,787 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rocky Brands by 5.4% during the 4th quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after acquiring an additional 598 shares in the last quarter. Barclays PLC increased its holdings in shares of Rocky Brands by 10.7% during the 4th quarter. Barclays PLC now owns 11,006 shares of the textile maker’s stock valued at $323,000 after acquiring an additional 1,061 shares during the last quarter. Man Group plc raised its stake in shares of Rocky Brands by 29.8% in the 4th quarter. Man Group plc now owns 10,019 shares of the textile maker’s stock valued at $294,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Rocky Brands by 38.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,915 shares of the textile maker’s stock worth $232,000 after purchasing an additional 2,201 shares during the last quarter. 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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