Rocky Brands (NASDAQ:RCKY) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.65 and traded as high as $23.87. Rocky Brands shares last traded at $23.07, with a volume of 50,848 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on RCKY. Robert W. Baird increased their price target on Rocky Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Wall Street Zen cut Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th.

Rocky Brands Stock Performance

The stock has a market capitalization of $174.19 million, a PE ratio of 12.76 and a beta of 2.34. The company has a quick ratio of 0.85, a current ratio of 2.64 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $22.26 and a 200-day moving average price of $20.67.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.21. Rocky Brands had a return on equity of 9.34% and a net margin of 3.03%. The firm had revenue of $114.07 million during the quarter, compared to analysts' expectations of $112.67 million.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, June 2nd. Rocky Brands's payout ratio is 33.88%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. raised its position in Rocky Brands by 6.0% during the first quarter. Raymond James Financial Inc. now owns 448,490 shares of the textile maker's stock valued at $7,790,000 after acquiring an additional 25,551 shares in the last quarter. American Century Companies Inc. raised its position in Rocky Brands by 10.0% during the first quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker's stock valued at $4,089,000 after acquiring an additional 21,420 shares in the last quarter. North Star Investment Management Corp. raised its position in Rocky Brands by 1.9% during the first quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker's stock valued at $3,798,000 after acquiring an additional 4,000 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Rocky Brands by 19.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker's stock valued at $2,372,000 after acquiring an additional 22,596 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Rocky Brands by 0.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 83,267 shares of the textile maker's stock valued at $1,898,000 after acquiring an additional 773 shares in the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.