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

Shares of Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.61 and traded as high as $23.90. Rocky Brands shares last traded at $23.65, with a volume of 49,478 shares traded.

Analyst Ratings Changes

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

Rocky Brands Price Performance

The stock has a market cap of $176.38 million, a PE ratio of 12.92 and a beta of 2.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.64 and a quick ratio of 0.85. The firm's 50 day moving average price is $21.26 and its two-hundred day moving average price is $20.60.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.21. The firm 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 3.03% and a return on equity of 9.34%.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.155 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.62%. Rocky Brands's payout ratio is 33.88%.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Rocky Brands by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker's stock valued at $1,737,000 after acquiring an additional 10,584 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Rocky Brands in the 4th quarter worth approximately $9,643,000. Inspire Advisors LLC grew its stake in Rocky Brands by 80.7% in the 4th quarter. Inspire Advisors LLC now owns 19,221 shares of the textile maker's stock worth $438,000 after buying an additional 8,582 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Rocky Brands by 0.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 113,958 shares of the textile maker's stock worth $2,598,000 after buying an additional 507 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Rocky Brands by 13.7% in the 4th quarter. American Century Companies Inc. now owns 213,991 shares of the textile maker's stock worth $4,879,000 after buying an additional 25,806 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company's stock.

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.