Rocky Brands, Inc. (RCKY) Given $12.50 Average Target Price by Analysts

Shares of Rocky Brands, Inc. (NASDAQ:RCKY) have earned an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.

Brokerages have set a 12-month consensus target price of $12.50 for the company and are expecting that the company will post $0.09 EPS for the current quarter, according to Zacks. Zacks has also given Rocky Brands an industry rank of 65 out of 265 based on the ratings given to its competitors.

Several analysts have recently weighed in on RCKY shares. Zacks Investment Research raised Rocky Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 19th. B. Riley reissued a “neutral” rating and issued a $12.00 target price on shares of Rocky Brands in a report on Monday, February 20th.

Shares of Rocky Brands (NASDAQ:RCKY) traded down 2.86% on Thursday, hitting $13.60. The stock had a trading volume of 15,620 shares. Rocky Brands has a 52-week low of $9.95 and a 52-week high of $15.70. The firm’s 50-day moving average price is $14.38 and its 200 day moving average price is $12.18. The firm’s market cap is $101.18 million.

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Thursday, May 25th. Rocky Brands’s payout ratio is currently -733.21%.

In other news, Director Robert Burton Jr. Moore bought 5,000 shares of Rocky Brands stock in a transaction dated Monday, May 22nd. The stock was acquired at an average cost of $13.65 per share, with a total value of $68,250.00. Following the acquisition, the director now owns 8,099 shares of the company’s stock, valued at $110,551.35. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Two Sigma Securities LLC purchased a new stake in Rocky Brands during the first quarter valued at $122,000. Marquette Asset Management Inc. purchased a new stake in Rocky Brands during the first quarter valued at $175,000. Wedge Capital Management L L P NC increased its stake in Rocky Brands by 14.4% in the first quarter. Wedge Capital Management L L P NC now owns 18,325 shares of the textile maker’s stock valued at $212,000 after buying an additional 2,300 shares during the last quarter. ICM Asset Management Inc. WA increased its stake in Rocky Brands by 68.3% in the fourth quarter. ICM Asset Management Inc. WA now owns 42,505 shares of the textile maker’s stock valued at $491,000 after buying an additional 17,247 shares during the last quarter. Finally, Morgan Stanley increased its stake in Rocky Brands by 15.0% in the first quarter. Morgan Stanley now owns 52,447 shares of the textile maker’s stock valued at $606,000 after buying an additional 6,852 shares during the last quarter. 51.61% of the stock is owned by institutional investors and hedge funds.

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About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:RCKY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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