Rocky Brands (NASDAQ:RCKY) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $45.25 and traded as high as $50.25. Rocky Brands shares last traded at $49.69, with a volume of 142,556 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RCKY. Wall Street Zen raised Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Robert W. Baird boosted their price target on Rocky Brands from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Rocky Brands Stock Down 0.5%

The company has a 50-day moving average price of $45.36 and a 200 day moving average price of $41.12. 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 market capitalization of $369.03 million, a PE ratio of 10.83 and a beta of 2.40.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, October 27th. The textile maker reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.26. Rocky Brands had a return on equity of 14.36% and a net margin of 6.62%. The business had revenue of $138.81 million during the quarter, compared to the consensus estimate of $129.84 million.

Rocky Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.17 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.68 annualized dividend and a yield of 1.4%. Rocky Brands’s payout ratio is presently 14.95%.

Insider Activity

In other news, insider Curtis Loveland sold 3,483 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total transaction of $176,030.82. Following the completion of the transaction, the insider owned 92,610 shares in the company, valued at $4,680,509.40. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Jordan sold 989 shares of Rocky Brands stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total value of $51,299.43. Following the completion of the sale, the director directly owned 20,951 shares in the company, valued at $1,086,728.37. This trade represents a 4.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocky Brands

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Rocky Brands during the 2nd quarter worth approximately $29,000. SG Americas Securities LLC purchased a new position in shares of Rocky Brands in the first quarter valued at $149,000. James Investment Research Inc. purchased a new position in shares of Rocky Brands in the first quarter valued at $211,000. Principal Financial Group Inc. bought a new stake in Rocky Brands in the first quarter worth $233,000. Finally, Deutsche Bank AG bought a new stake in Rocky Brands in the second quarter worth $278,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

About Rocky Brands

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.