Rocky Brands (NASDAQ:RCKY) Price Target Raised to $32.00

Rocky Brands (NASDAQ:RCKY) had its target price hoisted by Robert W. Baird from $28.00 to $32.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

RCKY has been the subject of several other research reports. StockNews.com lowered shares of Rocky Brands from a buy rating to a hold rating in a research report on Thursday, April 25th. B. Riley raised their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the company a neutral rating in a research note on Tuesday, February 27th.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY opened at $35.11 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 3.61 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $26.98 and its two-hundred day moving average price is $26.17. Rocky Brands has a 52-week low of $11.77 and a 52-week high of $35.69. The stock has a market capitalization of $260.62 million, a P/E ratio of 19.40 and a beta of 1.97.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a return on equity of 8.49% and a net margin of 2.88%.

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, March 1st. Rocky Brands’s dividend payout ratio is currently 34.25%.

Insider Activity at Rocky Brands

In related news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $32.78, for a total transaction of $163,900.00. Following the transaction, the director now owns 20,686 shares in the company, valued at $678,087.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by insiders.

Institutional Trading of Rocky Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates grew its position in Rocky Brands by 3.3% in the third quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock worth $7,518,000 after buying an additional 16,427 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Rocky Brands by 10.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock worth $2,517,000 after acquiring an additional 16,727 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of Rocky Brands during the third quarter worth $588,000. Quadrature Capital Ltd acquired a new stake in shares of Rocky Brands during the third quarter worth $261,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Rocky Brands during the fourth quarter valued at $118,000. 75.06% of the stock is currently owned by institutional investors.

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.