Rocky Brands (NASDAQ:RCKY) Share Price Passes Above 200-Day Moving Average of $28.95

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Shares of Rocky Brands Inc (NASDAQ:RCKY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.95 and traded as high as $29.22. Rocky Brands shares last traded at $29.22, with a volume of 32,871 shares traded.

A number of brokerages have recently commented on RCKY. ValuEngine cut Rocky Brands from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th. Zacks Investment Research raised Rocky Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 4.64. The business has a 50-day moving average price of $28.55 and a 200 day moving average price of $28.95. The stock has a market capitalization of $210.26 million, a P/E ratio of 15.41 and a beta of 0.48.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Wednesday, October 23rd. The textile maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Rocky Brands had a return on equity of 9.86% and a net margin of 6.09%. The firm had revenue of $67.18 million for the quarter, compared to analysts’ expectations of $68.20 million. As a group, research analysts forecast that Rocky Brands Inc will post 2.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. Rocky Brands’s dividend payout ratio is currently 29.79%.

In related news, CEO Jason Brooks sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.01, for a total value of $124,040.00. Following the transaction, the chief executive officer now directly owns 6,238 shares of the company’s stock, valued at approximately $193,440.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. Stewart sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.76, for a total value of $46,140.00. Following the completion of the transaction, the director now directly owns 10,233 shares in the company, valued at $314,767.08. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in RCKY. Metropolitan Life Insurance Co NY bought a new position in Rocky Brands in the 3rd quarter valued at approximately $84,000. Meritage Portfolio Management bought a new position in Rocky Brands in the 3rd quarter valued at approximately $220,000. Rhumbline Advisers lifted its position in Rocky Brands by 10.3% in the 3rd quarter. Rhumbline Advisers now owns 10,675 shares of the textile maker’s stock valued at $355,000 after acquiring an additional 1,000 shares in the last quarter. Strs Ohio lifted its position in Rocky Brands by 7.8% in the 2nd quarter. Strs Ohio now owns 13,900 shares of the textile maker’s stock valued at $379,000 after acquiring an additional 1,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Rocky Brands by 28.1% in the 3rd quarter. First Trust Advisors LP now owns 15,606 shares of the textile maker’s stock valued at $519,000 after acquiring an additional 3,423 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Company Profile (NASDAQ:RCKY)

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

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