Rocky Brands (NASDAQ:RCKY) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Rocky Brands shares crossed above their 200-day moving average, trading as high as $45.53 versus the $41.56 average, with the latest price near $45.15.
• Analyst sentiment remains cautious: the stock carries a consensus “Hold” rating and a $50 average price target, despite upgrades from some firms.
• The company reported strong quarterly results, earning $1.90 per share versus the $0.35 estimate and generating $118.37 million in revenue. Rocky Brands also pays a $0.17 quarterly dividend, while insiders have sold shares recently.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $41.56 and traded as high as $45.53. Rocky Brands shares last traded at $45.15, with a volume of 73,539 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Rocky Brands from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 9th. Robert W. Baird reaffirmed a "neutral" rating and set a $50.00 price objective on shares of Rocky Brands in a research note on Monday, September 14th. Weiss Ratings upgraded Rocky Brands from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Finally, BTIG Research reissued a "neutral" rating on shares of Rocky Brands in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.00.

Rocky Brands Stock Performance

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 stock's 50 day simple moving average is $45.05 and its two-hundred day simple moving average is $41.56. The stock has a market cap of $338.17 million, a P/E ratio of 11.82 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating the consensus estimate of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The company had revenue of $118.37 million during the quarter, compared to analysts' expectations of $110.08 million.

Rocky Brands Dividend Announcement

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

Insider Transactions at Rocky Brands

In other news, Director G Haning sold 3,000 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total transaction of $147,180.00. Following the completion of the transaction, the director directly owned 19,750 shares of the company's stock, valued at $968,935. This represents a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tracie A. Winbigler sold 3,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director owned 14,246 shares of the company's stock, valued at approximately $675,972.70. The trade was a 17.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,483 shares of company stock worth $763,214 in the last 90 days. Company insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Rocky Brands

Institutional investors have recently bought and sold shares of the company. Yarger Wealth Strategies LLC boosted its stake in shares of Rocky Brands by 6.0% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 9,387 shares of the textile maker's stock worth $377,000 after buying an additional 529 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Rocky Brands in the 2nd quarter valued at about $2,219,000. Bank of America Corp DE bought a new position in shares of Rocky Brands in the 2nd quarter valued at about $287,000. Legal & General Group Plc acquired a new stake in shares of Rocky Brands in the second quarter valued at about $29,000. Finally, Algert Global LLC increased its position in shares of Rocky Brands by 48.5% in the second quarter. Algert Global LLC now owns 52,405 shares of the textile maker's stock valued at $2,161,000 after acquiring an additional 17,111 shares during the last quarter. Institutional investors own 75.06% of the company's stock.

Rocky Brands Company Profile

Rocky Brands, Inc is an American footwear and apparel company headquartered in Nelsonville, Ohio. The company designs, develops, manufactures, and markets footwear for outdoor, work, western, military, public-safety, and lifestyle uses.

Its portfolio includes Rocky outdoor and work footwear, Georgia Boot work and western products, Durango western and lifestyle boots, and Lehigh Safety Shoe products. The company offers boots and shoes designed for activities and occupations requiring durability, protection, traction, and comfort, along with related apparel and accessories.

Founded in 1932 as the William Brooks Shoe Company, Rocky Brands has expanded from its Ohio manufacturing roots into a multichannel footwear business.

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