Rocky Brands (NASDAQ:RCKY) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.76 and traded as high as $33.59. Rocky Brands shares last traded at $33.11, with a volume of 14,801 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RCKY shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rocky Brands in a research note on Monday, December 29th. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a report on Wednesday, October 29th. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 25th. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Rocky Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Price Performance

The company has a quick ratio of 0.88, a current ratio of 2.74 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $247.99 million, a price-to-earnings ratio of 12.08 and a beta of 2.72. The stock’s 50-day simple moving average is $31.43 and its two-hundred day simple moving average is $29.76.

Institutional Investors Weigh In On Rocky Brands

Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of Rocky Brands during the fourth quarter valued at approximately $35,000. Strs Ohio purchased a new stake in shares of Rocky Brands during the first quarter worth approximately $92,000. BNP Paribas Financial Markets raised its stake in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after purchasing an additional 2,903 shares during the last quarter. Deutsche Bank AG lifted its holdings in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 464 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Rocky Brands in the 2nd quarter valued at $155,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.