Rocky Brands (NASDAQ:RCKY) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Ratings Changes

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

Rocky Brands Stock Down 0.0%

The stock has a market cap of $176.35 million, a P/E ratio of 12.92 and a beta of 2.34. The company has a current ratio of 2.64, a quick ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm's fifty day moving average is $20.86 and its 200 day moving average is $20.61.

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

Rocky Brands Announces Dividend

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

Institutional Investors Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently modified their holdings of RCKY. GAMMA Investing LLC raised its stake in Rocky Brands by 20,076.9% during the 1st 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 last quarter. Strs Ohio bought a new position in shares of Rocky Brands during the 1st quarter worth about $92,000. Wells Fargo & Company MN raised its position in shares of Rocky Brands by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock valued at $97,000 after buying an additional 1,007 shares during the last quarter. Bank of America Corp DE raised its position in shares of Rocky Brands by 51.8% during the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock valued at $202,000 after buying an additional 3,025 shares during the last quarter. Finally, Yarger Wealth Strategies LLC lifted its stake in shares of 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 buying an additional 894 shares during the period. Institutional investors and hedge funds own 75.06% of the company's stock.

About Rocky Brands

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.