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

Key Points

• Stock technicals: Rocky Brands shares crossed above its 200-day moving average
• Analyst outlook: Recent downgrades have left the consensus rating at "Hold" (1 Buy, 3 Hold) with a consensus price target of $42.00.
• Fundamentals and recent results: The company reported quarterly EPS of $0.24 (missing estimates of $0.27) with revenue of $124.4M (above estimates), pays a quarterly dividend of $0.155 (annualized yield ~1.7%), and has a market cap of about $274M and a P/E of 14.7.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.48 and traded as high as $37.21. Rocky Brands shares last traded at $36.39, with a volume of 82,957 shares traded.

Analyst Ratings Changes

RCKY has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Rocky Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Rocky Brands from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating and three have assigned 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 $42.00.

Rocky Brands Stock Performance

The stock has a market capitalization of $274.38 million, a price-to-earnings ratio of 14.73 and a beta of 2.39. The stock's 50 day moving average is $41.47 and its 200 day moving average is $34.48. The company has a current ratio of 2.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.03). The business had revenue of $124.40 million during the quarter, compared to analyst estimates of $122.42 million. Rocky Brands had a net margin of 3.78% and a return on equity of 8.49%.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 2nd. Rocky Brands's dividend payout ratio is presently 25.10%.

Institutional Investors Weigh In On Rocky Brands

A number of large investors have recently added to or reduced their stakes in RCKY. Empowered Funds LLC grew its stake in Rocky Brands by 6.8% in the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker's stock valued at $602,000 after acquiring an additional 2,205 shares during the last quarter. Strs Ohio acquired a new stake in Rocky Brands in the 1st quarter valued at about $92,000. Geode Capital Management LLC lifted its holdings in Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker's stock valued at $3,782,000 after purchasing an additional 1,303 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Rocky Brands in the 2nd quarter valued at about $572,000. Finally, First Trust Advisors LP lifted its holdings in Rocky Brands by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker's stock valued at $534,000 after purchasing an additional 963 shares in the last quarter. 75.06% of the stock is 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.

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