Shares of Rocky Brands Inc (NASDAQ:RCKY) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Analysts have set a 12-month consensus target price of $23.00 for the company and are anticipating that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Rocky Brands an industry rank of 64 out of 265 based on the ratings given to related companies.
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Several brokerages have recently commented on RCKY. Zacks Investment Research cut shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Robert W. Baird boosted their target price on shares of Rocky Brands from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, April 25th. Finally, ValuEngine upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
Rocky Brands traded up $0.10, hitting $27.40, during midday trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 4,888 shares, compared to its average volume of 94,829. Rocky Brands has a 1-year low of $12.20 and a 1-year high of $27.95. The stock has a market capitalization of $198.87 million, a price-to-earnings ratio of 23.62 and a beta of 0.30.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, April 24th. The textile maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19. Rocky Brands had a net margin of 4.51% and a return on equity of 7.40%. The business had revenue of $61.39 million during the quarter, compared to analysts’ expectations of $61.60 million. equities analysts forecast that Rocky Brands will post 1.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. Rocky Brands’s payout ratio is 37.93%.
Rocky Brands announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 5th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Curtis A. Loveland sold 7,500 shares of Rocky Brands stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $27.04, for a total transaction of $202,800.00. Following the sale, the insider now directly owns 83,765 shares of the company’s stock, valued at approximately $2,265,005.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis A. Loveland sold 12,500 shares of Rocky Brands stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $25.13, for a total transaction of $314,125.00. Following the sale, the insider now directly owns 83,765 shares in the company, valued at $2,105,014.45. The disclosure for this sale can be found here. Insiders have sold a total of 39,459 shares of company stock worth $1,018,042 over the last ninety days. 8.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of RCKY. Acadian Asset Management LLC grew its holdings in Rocky Brands by 10.4% during the 4th quarter. Acadian Asset Management LLC now owns 263,763 shares of the textile maker’s stock worth $4,983,000 after acquiring an additional 24,754 shares during the last quarter. Bailard Inc. bought a new stake in Rocky Brands during the 4th quarter worth approximately $656,000. Wells Fargo & Company MN lifted its position in shares of Rocky Brands by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 335,234 shares of the textile maker’s stock worth $6,335,000 after purchasing an additional 39,023 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Rocky Brands by 175.7% in the 4th quarter. Bank of New York Mellon Corp now owns 47,133 shares of the textile maker’s stock worth $891,000 after purchasing an additional 30,036 shares during the period. Finally, EAM Investors LLC acquired a new position in shares of Rocky Brands in the 4th quarter worth approximately $687,000. 60.76% of the stock is currently owned by hedge funds and other institutional investors.
Rocky Brands Company Profile
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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