Rocky Brands (NASDAQ:RCKY) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Rocky Brands, Inc. (NASDAQ:RCKY)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.53 and traded as high as $28.21. Rocky Brands shares last traded at $27.84, with a volume of 120,367 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on RCKY. Robert W. Baird upgraded Rocky Brands from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $40.00 in a research note on Tuesday, August 26th. Baird R W raised Rocky Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rocky Brands in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.00.

Rocky Brands Trading Up 2.9%

The business has a 50 day simple moving average of $28.69 and a two-hundred day simple moving average of $23.53. The company has a current ratio of 2.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52. The stock has a market cap of $207.96 million, a price-to-earnings ratio of 11.23 and a beta of 2.44.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 29th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.31. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.The firm had revenue of $105.65 million during the quarter, compared to analyst estimates of $102.54 million.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio (DPR) is 25.00%.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director William L. Jordan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the transaction, the director owned 18,683 shares of the company’s stock, valued at $562,358.30. This trade represents a 21.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tracie A. Winbigler sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director directly owned 6,978 shares in the company, valued at approximately $208,991.10. This represents a 41.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,000 shares of company stock worth $754,400. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RCKY. Raymond James Financial Inc. lifted its holdings in Rocky Brands by 24.3% during the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Rocky Brands by 686.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock worth $1,898,000 after purchasing an additional 74,668 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Rocky Brands by 128.5% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker’s stock worth $2,735,000 after purchasing an additional 69,313 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Rocky Brands in the 3rd quarter worth approximately $1,772,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Rocky Brands in the 1st quarter worth approximately $606,000. Institutional investors own 75.06% of the company’s stock.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.