Rocky Brands (NASDAQ:RCKY) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $37.35 and traded as high as $40.69. Rocky Brands shares last traded at $40.16, with a volume of 34,216 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RCKY. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. Wall Street Zen cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Rocky Brands Stock Up 2.0%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The firm has a 50 day simple moving average of $38.19 and a two-hundred day simple moving average of $37.35. The stock has a market cap of $302.85 million, a P/E ratio of 16.26 and a beta of 2.37.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The business had revenue of $124.40 million for the quarter, compared to analyst estimates of $122.42 million.

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.17 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s payout ratio is currently 27.53%.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands in the fourth quarter valued at approximately $35,000. BNP Paribas Financial Markets raised its holdings in Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares in the last quarter. SG Americas Securities LLC bought a new stake in Rocky Brands during the first quarter worth approximately $149,000. Deutsche Bank AG raised its holdings in Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Rocky Brands in the first quarter worth approximately $92,000. 75.06% of the stock is currently owned by institutional investors.

Rocky Brands Company Profile

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.