Rocky Brands, Inc. (NASDAQ:RCKY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rocky Brands, Inc. (NASDAQ:RCKY) has been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.00.

RCKY has been the topic of a number of analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Rocky Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $32.35 on Monday. Rocky Brands has a 12 month low of $11.93 and a 12 month high of $33.53. 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 firm has a market capitalization of $242.30 million, a PE ratio of 11.81 and a beta of 2.67. The business’s fifty day moving average price is $30.15 and its 200 day moving average price is $28.35.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $122.54 million for the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.62 annualized dividend and a yield of 1.9%. Rocky Brands’s payout ratio is 22.63%.

Insider Buying and Selling

In related news, SVP Byron Wortham sold 6,600 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total value of $197,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis A. Loveland sold 2,162 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $32.39, for a total transaction of $70,027.18. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,156 shares of company stock valued at $643,824. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in shares of Rocky Brands during the first quarter worth approximately $92,000. BNP Paribas Financial Markets grew its holdings in Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after acquiring an additional 2,903 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Rocky Brands during the 2nd quarter valued at $155,000. Metis Global Partners LLC bought a new stake in shares of Rocky Brands during the 3rd quarter valued at $208,000. Finally, Jump Financial LLC bought a new position in shares of Rocky Brands in the 2nd quarter worth $208,000. Institutional investors own 75.06% of the company’s stock.

About Rocky Brands

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.