Shares of Rocky Brands Inc (NASDAQ:RCKY) have received 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 recommendation.
Analysts have set a 1-year consensus price target of $28.00 for the company and are predicting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 89 out of 255 based on the ratings given to its competitors.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Friday, April 27th. Robert W. Baird increased their price objective on shares of Rocky Brands from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, April 25th.
Shares of Rocky Brands traded down $0.30, hitting $30.00, on Friday, Marketbeat Ratings reports. The stock had a trading volume of 145,860 shares, compared to its average volume of 143,304. The company has a market capitalization of $222.20 million, a PE ratio of 21.43 and a beta of 0.36. Rocky Brands has a 52-week low of $12.20 and a 52-week high of $31.75.
Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 24th. The textile maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.19. The business had revenue of $61.39 million during the quarter, compared to the consensus estimate of $61.60 million. Rocky Brands had a net margin of 4.51% and a return on equity of 7.40%. research analysts forecast that Rocky Brands will post 1.5 EPS for the current fiscal year.
Rocky Brands declared that its board has approved a share buyback 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 purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, May 30th. Rocky Brands’s dividend payout ratio is 41.38%.
In other Rocky Brands news, insider Richard Simms sold 4,000 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $29.08, for a total transaction of $116,320.00. Following the transaction, the insider now directly owns 6,246 shares in the company, valued at approximately $181,633.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis A. Loveland sold 12,500 shares of the stock in a transaction 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 transaction, the insider now 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 62,291 shares of company stock worth $1,664,077 over the last quarter. 8.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Rocky Brands during the 1st quarter valued at $384,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Rocky Brands during the fourth quarter worth $401,000. Investors Research Corp acquired a new stake in shares of Rocky Brands during the fourth quarter worth $440,000. Russell Investments Group Ltd. acquired a new stake in shares of Rocky Brands during the first quarter worth $501,000. Finally, EAM Investors LLC acquired a new stake in shares of Rocky Brands during the fourth quarter worth $687,000. Hedge funds and other institutional investors own 60.78% of the company’s stock.
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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