Rocky Brands (NASDAQ:RCKY) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Shares of Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.61 and traded as high as $21.95. Rocky Brands shares last traded at $21.77, with a volume of 64,064 shares.

Wall Street Analyst Weigh In

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

Rocky Brands Stock Up 1.9%

The business has a fifty day moving average of $20.09 and a 200 day moving average of $20.62. The stock has a market cap of $166.73 million, a price-to-earnings ratio of 12.21 and a beta of 2.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.64 and a quick ratio of 0.85.

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. Rocky Brands had a return on equity of 9.34% and a net margin of 3.03%. The firm had revenue of $114.07 million during the quarter, compared to analyst estimates of $112.67 million.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.155 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 2.77%. Rocky Brands's payout ratio is presently 33.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of Rocky Brands by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock worth $97,000 after purchasing an additional 1,007 shares during the period. GAMMA Investing LLC increased its position in Rocky Brands by 20,076.9% in the 1st quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock worth $91,000 after buying an additional 5,220 shares during the period. Strs Ohio bought a new position in Rocky Brands in the 1st quarter worth approximately $92,000. Bank of America Corp DE boosted its position in shares of 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 acquiring an additional 3,025 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Rocky Brands by 9.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker's stock worth $210,000 after purchasing an additional 820 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.