Rocky Brands Inc (NASDAQ:RCKY) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price target of $28.00 for the company and are predicting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 29 out of 255 based on the ratings given to related companies.
RCKY has been the topic of a number of research reports. Zacks Investment Research lowered shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Robert W. Baird reaffirmed a “hold” rating and set a $19.00 target price on shares of Rocky Brands in a research report on Friday, February 23rd. Finally, ValuEngine upgraded shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.
Shares of Rocky Brands traded down $0.05, reaching $28.55, during trading on Friday, MarketBeat Ratings reports. 1,032 shares of the company were exchanged, compared to its average volume of 55,157. The firm has a market cap of $211.84 million, a PE ratio of 24.61 and a beta of 0.36. Rocky Brands has a 12-month low of $12.20 and a 12-month high of $30.30.
Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, April 24th. The textile maker reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.19. The business had revenue of $61.39 million for the quarter, compared to analyst estimates of $61.60 million. Rocky Brands had a net margin of 4.51% and a return on equity of 7.40%. sell-side analysts expect that Rocky Brands will post 1.5 EPS for the current fiscal year.
Rocky Brands declared that its board has initiated a share buyback plan on Monday, March 5th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 30th. This is an increase from Rocky Brands’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.68%. Rocky Brands’s dividend payout ratio (DPR) is currently 41.38%.
In other news, insider Curtis A. Loveland sold 12,500 shares of the stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $25.13, for a total transaction of $314,125.00. Following the transaction, the insider now directly owns 83,765 shares in the company, valued at $2,105,014.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Simms sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $29.08, for a total transaction of $116,320.00. Following the transaction, the insider now owns 6,246 shares in the company, valued at $181,633.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,959 shares of company stock worth $1,625,662. Insiders own 9.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCKY. Bailard Inc. bought a new position in shares of Rocky Brands during the fourth quarter valued at approximately $656,000. Wells Fargo & Company MN boosted its stake in Rocky Brands by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 335,234 shares of the textile maker’s stock valued at $6,335,000 after acquiring an additional 39,023 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Rocky Brands by 175.7% in the fourth quarter. Bank of New York Mellon Corp now owns 47,133 shares of the textile maker’s stock valued at $891,000 after acquiring an additional 30,036 shares in the last quarter. EAM Investors LLC acquired a new stake in Rocky Brands in the fourth quarter valued at approximately $687,000. Finally, Investors Research Corp acquired a new stake in Rocky Brands in the fourth quarter valued at approximately $440,000. Hedge funds and other institutional investors own 60.78% of the company’s stock.
Rocky Brands Company Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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