Rocky Brands Inc (NASDAQ:RCKY) Receives Consensus Rating of “Hold” from Brokerages

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Shares of Rocky Brands Inc (NASDAQ:RCKY) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Brokerages have set a 1-year consensus price target of $21.00 for the company and are anticipating that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 241 out of 254 based on the ratings given to related companies.

Several equities analysts have issued reports on the stock. ValuEngine downgraded shares of Rocky Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, April 1st. Zacks Investment Research cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, April 30th.

Shares of Rocky Brands stock traded up $0.06 on Wednesday, hitting $20.80. 34,873 shares of the company were exchanged, compared to its average volume of 45,166. The stock has a market capitalization of $151.65 million, a price-to-earnings ratio of 10.35 and a beta of 0.59. The company has a 50-day moving average price of $19.52 and a 200 day moving average price of $24.23. Rocky Brands has a 1-year low of $14.96 and a 1-year high of $34.14. The company has a quick ratio of 2.96, a current ratio of 5.68 and a debt-to-equity ratio of 0.13.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 28th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). Rocky Brands had a net margin of 5.78% and a return on equity of 9.42%. The firm had revenue of $55.72 million during the quarter, compared to analysts’ expectations of $66.30 million. Research analysts forecast that Rocky Brands will post 1.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be issued a $0.14 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.69%. Rocky Brands’s dividend payout ratio (DPR) is presently 24.67%.

In other Rocky Brands news, insider Curtis A. Loveland bought 7,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $20.00 per share, with a total value of $140,000.00. Following the purchase, the insider now owns 85,595 shares in the company, valued at approximately $1,711,900. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 8.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in Rocky Brands by 49.2% during the 1st quarter. Citigroup Inc. now owns 2,074 shares of the textile maker’s stock worth $40,000 after buying an additional 684 shares during the period. Meeder Asset Management Inc. increased its stake in Rocky Brands by 329.2% during the 4th quarter. Meeder Asset Management Inc. now owns 2,116 shares of the textile maker’s stock worth $61,000 after buying an additional 1,623 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Rocky Brands during the 1st quarter worth $217,000. Barclays PLC increased its stake in Rocky Brands by 110.2% during the 4th quarter. Barclays PLC now owns 7,405 shares of the textile maker’s stock worth $218,000 after buying an additional 3,882 shares during the period. Finally, Marshall Wace North America L.P. increased its position in shares of Rocky Brands by 450.4% in the 4th quarter. Marshall Wace North America L.P. now owns 7,595 shares of the textile maker’s stock worth $224,000 after purchasing an additional 6,215 shares during the last quarter. 72.25% of the stock is currently owned by hedge funds and other institutional investors.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

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