Key Points
- Director Tracie Winbigler sold 3,000 Rocky Brands shares at an average price of $47.45, generating $142,350 and reducing her holdings by 17.4% to 14,246 shares.
- Rocky Brands reported quarterly EPS of $1.90, well above the $0.35 analyst consensus, while revenue of $118.37 million also exceeded estimates.
- The company increased its quarterly dividend to $0.17 per share, and analyst sentiment remained mixed, with an average rating of “Hold” and a consensus price target of $56.
Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) Director Dwight Eric Smith purchased 500 shares of Rocky Brands stock in a transaction that occurred on Thursday, July 30th. The shares were purchased at an average cost of $48.63 per share, with a total value of $24,315.00. Following the transaction, the director directly owned 16,346 shares of the company's stock, valued at $794,905.98. This represents a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Rocky Brands Price Performance
Shares of NASDAQ RCKY opened at $50.78 on Tuesday. The firm has a market cap of $382.88 million, a P/E ratio of 13.29 and a beta of 2.35. Rocky Brands, Inc. has a twelve month low of $25.08 and a twelve month high of $51.41. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $40.71 and a 200 day moving average of $38.89.
Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, beating the consensus estimate of $0.35 by $1.55. The business had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.
Rocky Brands Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. This is a boost from Rocky Brands's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands's payout ratio is 17.80%.
Wall Street Analysts Forecast Growth
RCKY has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. BTIG Research restated a "neutral" rating on shares of Rocky Brands in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Rocky Brands from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.00.
Check Out Our Latest Stock Report on RCKY
Key Rocky Brands News
Here are the key news stories impacting Rocky Brands this week:
- Positive Sentiment: Director Dwight Eric Smith purchased 500 shares for approximately $24,315, increasing his holdings by 3.16%. The purchase may modestly support investor confidence in Rocky Brands’ valuation and outlook. SEC filing for Dwight Eric Smith purchase
- Negative Sentiment: Several insiders sold shares after the stock’s recent rally: CEO Curtis A. Loveland sold 3,000 shares for $148,860; Director Tracie A. Winbigler sold 3,000 shares for $142,350; Director William L. Jordan sold 2,011 shares for $97,493; and Director G. Courtney Haning sold 3,000 shares for $147,180. Collectively, the sales totaled 11,011 shares and roughly $535,883, potentially creating a modest overhang or signaling that some insiders are taking profits near elevated price levels. SEC filing for Curtis A. Loveland sale SEC filing for Tracie A. Winbigler sale SEC filing for William L. Jordan sale SEC filing for G. Courtney Haning sale
Hedge Funds Weigh In On Rocky Brands
A number of institutional investors and hedge funds have recently made changes to their positions in RCKY. Hennion & Walsh Asset Management Inc. grew its position in Rocky Brands by 32.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,774 shares of the textile maker's stock valued at $486,000 after buying an additional 2,917 shares during the period. Bank of America Corp DE boosted its stake in shares of Rocky Brands by 154.5% during the 1st quarter. Bank of America Corp DE now owns 14,885 shares of the textile maker's stock worth $576,000 after acquiring an additional 9,036 shares during the last quarter. Empowered Funds LLC grew its position in shares of Rocky Brands by 9.8% during the 1st quarter. Empowered Funds LLC now owns 50,106 shares of the textile maker's stock valued at $1,940,000 after acquiring an additional 4,478 shares during the period. Renaissance Technologies LLC grew its position in shares of Rocky Brands by 39.1% during the 1st quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker's stock valued at $3,234,000 after acquiring an additional 23,500 shares during the period. Finally, Aristides Capital LLC grew its position in shares of Rocky Brands by 264.6% during the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker's stock valued at $4,365,000 after acquiring an additional 81,822 shares during the period. Hedge funds and other institutional investors own 75.06% of the company's stock.
About Rocky Brands
(
Get Free Report)
Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.
Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.
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