Rocky Brands (NASDAQ:RCKY) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.58 and traded as high as $23.63. Rocky Brands shares last traded at $23.32, with a volume of 47,179 shares trading hands.

Analysts Set New Price Targets

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

Rocky Brands Trading Up 0.7%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93. The business's 50 day moving average price is $17.69 and its 200-day moving average price is $20.59. The firm has a market capitalization of $173.24 million, a price-to-earnings ratio of 13.05 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.21. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The business had revenue of $114.07 million for the quarter, compared to analyst estimates of $112.67 million.

Rocky Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.67%. Rocky Brands's dividend payout ratio (DPR) is 33.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RCKY. Raymond James Financial Inc. grew 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 worth $7,790,000 after buying an additional 25,551 shares during the period. American Century Companies Inc. lifted its stake in shares of 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 buying an additional 21,420 shares during the period. North Star Investment Management Corp. raised its stake 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 worth $3,798,000 after purchasing an additional 4,000 shares during the period. Diamond Hill Capital Management Inc. raised its stake 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 worth $2,372,000 after purchasing an additional 22,596 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake 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 worth $1,898,000 after purchasing an additional 773 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.