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

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $42.00.

Several research firms have recently weighed in on RCKY. Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a report on Wednesday. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $42.00 price objective on Rocky Brands in a research note on Wednesday, October 29th.

Rocky Brands Stock Up 2.2%

Shares of Rocky Brands stock opened at $29.92 on Friday. Rocky Brands has a 12-month low of $11.93 and a 12-month high of $33.40. The firm has a market capitalization of $224.22 million, a PE ratio of 10.92 and a beta of 2.49. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $29.11 and its 200-day moving average is $26.00.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $122.54 million during the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a return on equity of 11.15% and a net margin of 4.37%.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, December 1st. Rocky Brands’s dividend payout ratio (DPR) is currently 22.63%.

Insider Activity

In other Rocky Brands news, Director Tracie A. Winbigler sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director owned 6,978 shares in the company, valued at approximately $208,991.10. This represents a 41.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $197,340.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,156 shares of company stock valued at $1,398,224 in the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Rocky Brands

A number of institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd increased its position in Rocky Brands by 76.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 42,381 shares of the textile maker’s stock worth $1,263,000 after purchasing an additional 18,337 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Rocky Brands in the 3rd quarter valued at approximately $1,024,000. Crawford Investment Counsel Inc. increased its holdings in Rocky Brands by 0.7% in the third quarter. Crawford Investment Counsel Inc. now owns 182,142 shares of the textile maker’s stock worth $5,426,000 after buying an additional 1,261 shares during the last quarter. Bank of America Corp DE raised its position in Rocky Brands by 1,153.5% during the third quarter. Bank of America Corp DE now owns 41,803 shares of the textile maker’s stock valued at $1,245,000 after acquiring an additional 38,468 shares in the last quarter. Finally, Man Group plc acquired a new stake in Rocky Brands in the third quarter valued at approximately $230,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Company Profile

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.