Rocky Brands (NASDAQ:RCKY – Free Report) had its price objective boosted by Robert W. Baird from $28.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the textile maker’s stock.
Several other analysts have also weighed in on RCKY. B. Riley raised their price objective on shares of Rocky Brands from $19.00 to $24.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. StockNews.com cut Rocky Brands from a buy rating to a hold rating in a report on Thursday, April 25th.
View Our Latest Research Report on Rocky Brands
Rocky Brands Stock Performance
Rocky Brands (NASDAQ:RCKY – Get Free Report) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a net margin of 2.88% and a return on equity of 8.49%.
Rocky Brands Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.77%. Rocky Brands’s payout ratio is 34.25%.
Insider Activity
In other news, Director G Courtney Haning sold 5,000 shares of Rocky Brands stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total value of $163,900.00. Following the completion of the sale, the director now directly owns 20,686 shares of the company’s stock, valued at approximately $678,087.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Raymond James & Associates raised its stake in shares of Rocky Brands by 3.3% during 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. boosted its stake in Rocky Brands by 10.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after acquiring an additional 16,727 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in Rocky Brands during the 3rd quarter worth $588,000. Quadrature Capital Ltd bought a new stake in shares of Rocky Brands during the 3rd quarter valued at $261,000. Finally, SG Americas Securities LLC acquired a new position in shares of Rocky Brands in the 4th quarter valued at $118,000. Institutional investors own 75.06% of the company’s stock.
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.
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