Rocky Brands (NASDAQ:RCKY) Shares Cross Above 200 Day Moving Average - Here's Why

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) shares crossed 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.

Analyst Ratings Changes

Several research analysts have commented on RCKY shares. Wall Street Zen downgraded shares of Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird boosted their price objective on shares of Rocky Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th.

Rocky Brands Stock Up 0.3%

The firm's fifty day moving average price is $17.93 and its 200-day moving average price is $20.63. The company has a market capitalization of $173.77 million, a price-to-earnings ratio of 13.08 and a beta of 2.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $114.07 million during the quarter, compared to the consensus estimate of $112.67 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.66%. Rocky Brands's dividend payout ratio (DPR) is presently 33.88%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Rocky Brands by 20,076.9% in the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock valued at $91,000 after purchasing an additional 5,220 shares during the period. Strs Ohio acquired a new stake in Rocky Brands in the first quarter valued at $92,000. Wells Fargo & Company MN increased its holdings in Rocky Brands by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock valued at $97,000 after purchasing an additional 1,007 shares during the period. Bank of America Corp DE increased its holdings in Rocky Brands by 51.8% in the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock valued at $202,000 after purchasing an additional 3,025 shares during the period. Finally, Yarger Wealth Strategies LLC increased its holdings in Rocky Brands by 8.2% in the first quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker's stock valued at $204,000 after purchasing an additional 894 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.