Rocky Brands (NASDAQ:RCKY) Issues Quarterly Earnings Results

Rocky Brands (NASDAQ:RCKY) released its earnings results on Tuesday. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07, Yahoo Finance reports. Rocky Brands had a return on equity of 8.87% and a net margin of 3.21%. The firm had revenue of $98.26 million during the quarter.

Rocky Brands Trading Down 5.7 %

Shares of Rocky Brands stock traded down $1.97 on Thursday, hitting $32.31. 15,917 shares of the company’s stock traded hands, compared to its average volume of 39,606. The company has a fifty day moving average of $35.97 and a two-hundred day moving average of $31.17. The company has a market capitalization of $239.74 million, a price-to-earnings ratio of 18.94 and a beta of 2.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.31 and a quick ratio of 1.10. Rocky Brands has a one year low of $11.77 and a one year high of $40.14.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, May 31st. Rocky Brands’s payout ratio is presently 34.25%.

Insider Activity at Rocky Brands

In other news, Director Robert Burton Jr. Moore sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $38.82, for a total transaction of $349,380.00. Following the transaction, the director now directly owns 29,517 shares of the company’s stock, valued at $1,145,849.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert Burton Jr. Moore sold 9,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $38.82, for a total value of $349,380.00. Following the completion of the sale, the director now directly owns 29,517 shares of the company’s stock, valued at approximately $1,145,849.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis A. Loveland sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $37.00, for a total transaction of $148,000.00. Following the transaction, the insider now owns 95,804 shares in the company, valued at $3,544,748. The disclosure for this sale can be found here. Insiders have sold 15,515 shares of company stock worth $586,813 in the last quarter. Company insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

RCKY has been the subject of a number of research analyst reports. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Robert W. Baird upped their target price on Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st.

Rocky Brands Company Profile

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.