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

Key Points

• Rocky Brands shares rose above their 200-day moving average on Friday, trading as high as $40.69 and last changing hands at $40.16. The move came after the stock had a 200-day average of $37.35.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock to hold, Weiss Ratings reaffirmed a hold, and MarketBeat shows a consensus rating of Hold with a $42.00 price target.
• The company recently raised its quarterly dividend to $0.17 per share from $0.15, equal to a 1.7% annualized yield. In its latest earnings report, Rocky Brands missed EPS estimates but slightly beat revenue expectations.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $37.35 and traded as high as $40.69. Rocky Brands shares last traded at $40.16, with a volume of 34,216 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Rocky Brands from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $42.00.

Rocky Brands Price Performance

The stock has a market cap of $302.81 million, a price-to-earnings ratio of 16.26 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The company has a 50-day simple moving average of $38.19 and a two-hundred day simple moving average of $37.35.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The company had revenue of $124.40 million during the quarter, compared to analyst estimates of $122.42 million.

Rocky Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.17 dividend. This is an increase from Rocky Brands's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. Rocky Brands's dividend payout ratio is presently 27.53%.

Institutional Trading of Rocky Brands

A number of hedge funds have recently modified their holdings of RCKY. Deutsche Bank AG grew its stake in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock valued at $150,000 after buying an additional 464 shares during the last quarter. NewEdge Advisors LLC lifted its position in Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker's stock worth $342,000 after acquiring an additional 598 shares during the last quarter. First Trust Advisors LP lifted its position in Rocky Brands by 2.8% during the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker's stock worth $695,000 after acquiring an additional 655 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Rocky Brands by 5.4% during the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker's stock worth $448,000 after acquiring an additional 781 shares during the period. Finally, Aristides Capital LLC boosted its holdings in shares of Rocky Brands by 3.3% during the fourth quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker's stock worth $907,000 after acquiring an additional 979 shares during the period. Institutional investors and hedge funds own 75.06% of the company's stock.

Rocky Brands Company Profile

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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