Rocky Brands (NASDAQ:RCKY) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Rocky Brands' stock price recently surpassed its **200-day moving average**, reaching a high of **$27.84**, with the last trade at **$27.40**.
• The company declared a **quarterly dividend** of **$0.155 per share**, with a dividend yield of **2.3%** and an ex-dividend date of September 2nd.
• Wall Street analysts currently rate Rocky Brands as a **"Hold"**, with a consensus price target of **$30.00**, following recent changes in ratings from various analysts.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.96 and traded as high as $27.84. Rocky Brands shares last traded at $27.40, with a volume of 49,977 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Baird R W upgraded Rocky Brands from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Robert W. Baird upgraded Rocky Brands from a "neutral" rating to an "outperform" rating and raised their price target for the company from $30.00 to $40.00 in a report on Tuesday. Finally, Wall Street Zen cut Rocky Brands from a "buy" rating to a "hold" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Strong Buy" and an average price target of $40.00.

Rocky Brands Stock Down 0.8%

The firm has a 50 day simple moving average of $25.08 and a two-hundred day simple moving average of $21.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. The stock has a market cap of $227.31 million, a price-to-earnings ratio of 12.27 and a beta of 2.35.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.31. The firm had revenue of $105.65 million for the quarter, compared to analyst estimates of $102.54 million. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.

Rocky Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.0%. Rocky Brands's dividend payout ratio (DPR) is currently 25.00%.

Insider Activity at Rocky Brands

In other news, Director G Courtney Haning sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total transaction of $155,000.00. Following the sale, the director owned 19,482 shares of the company's stock, valued at $603,942. This trade represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Two Sigma Investments LP grew its stake in Rocky Brands by 3.6% in the fourth quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker's stock valued at $298,000 after purchasing an additional 459 shares in the last quarter. Northern Trust Corp grew its stake in Rocky Brands by 0.8% in the fourth quarter. Northern Trust Corp now owns 77,994 shares of the textile maker's stock valued at $1,778,000 after purchasing an additional 618 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Rocky Brands by 0.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 83,267 shares of the textile maker's stock valued at $1,898,000 after purchasing an additional 773 shares in the last quarter. Prudential Financial Inc. grew its stake in Rocky Brands by 2.9% in the second quarter. Prudential Financial Inc. now owns 28,445 shares of the textile maker's stock valued at $631,000 after purchasing an additional 800 shares in the last quarter. Finally, Yarger Wealth Strategies LLC grew its stake 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 in the last quarter. 75.06% of the stock is currently owned by institutional investors.

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.