Rocky Brands (NASDAQ:RCKY) Announces Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Rocky Brands (NASDAQ:RCKY) released its quarterly earnings results on Tuesday. The textile maker reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.26, FiscalAI reports. The business had revenue of $138.81 million during the quarter, compared to analyst estimates of $129.84 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY traded down $1.15 during midday trading on Tuesday, reaching $44.57. The company’s stock had a trading volume of 38,539 shares, compared to its average volume of 54,872. The stock has a market capitalization of $333.92 million, a P/E ratio of 11.67 and a beta of 2.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.97 and a quick ratio of 1.12. The firm has a 50 day moving average price of $45.23 and a 200-day moving average price of $40.76. Rocky Brands has a 12-month low of $27.22 and a 12-month high of $53.01.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 1st. Rocky Brands’s payout ratio is presently 17.80%.

Wall Street Analysts Forecast Growth

RCKY has been the topic of several recent analyst reports. Robert W. Baird restated a “neutral” rating and set a $50.00 price objective on shares of Rocky Brands in a research note on Monday, September 14th. Wall Street Zen upgraded shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Rocky Brands presently has a consensus rating of “Hold” and an average price target of $50.00.

Insiders Place Their Bets

In related news, Director William Jordan sold 989 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total transaction of $51,299.43. Following the completion of the sale, the director directly owned 20,951 shares of the company’s stock, valued at approximately $1,086,728.37. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Haning sold 3,000 shares of Rocky Brands stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value of $147,180.00. Following the sale, the director owned 19,750 shares in the company, valued at $968,935. This trade represents a 13.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,483 shares of company stock valued at $763,214. Insiders own 7.60% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. Founded in 1932, the company develops, manufactures, and markets work, outdoor, western, hunting, and military footwear, along with related apparel and accessories.

Its brand portfolio includes Rocky, Georgia Boot, Durango, and Lehigh Safety Shoe. Products are designed for applications such as construction, industrial work, farming, law enforcement, outdoor recreation, hunting, and everyday wear.