Press coverage about Rocky Brands (NASDAQ:RCKY) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Rocky Brands earned a coverage optimism score of 0.14 on Accern’s scale. Accern also assigned news stories about the textile maker an impact score of 45.1621481939575 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
A number of brokerages have recently commented on RCKY. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Friday, April 27th. Robert W. Baird increased their price target 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. Finally, ValuEngine raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.
Shares of Rocky Brands traded down $0.30, reaching $28.55, during midday trading on Friday, according to MarketBeat.com. The stock had a trading volume of 942,830 shares, compared to its average volume of 82,095. The company has a market cap of $213.69 million, a PE ratio of 20.61 and a beta of 0.36. Rocky Brands has a one year low of $12.20 and a one year high of $30.30.
Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, April 24th. The textile maker reported $0.44 EPS for the quarter, beating 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 company had revenue of $61.39 million during the quarter, compared to analysts’ expectations of $61.60 million. analysts expect that Rocky Brands will post 1.5 earnings per share for the current year.
Rocky Brands declared that its board has authorized a stock buyback program on Monday, March 5th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were paid a dividend of $0.12 per share. The ex-dividend date was 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 yield of 1.68%. Rocky Brands’s dividend payout ratio is currently 41.38%.
In other Rocky Brands news, Director Harley E. Rouda, Jr. sold 9,459 shares of Rocky Brands stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $24.96, for a total transaction of $236,096.64. Following the transaction, the director now directly owns 28,686 shares of the company’s stock, valued at $716,002.56. 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 Rocky Brands stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $25.13, for a total transaction of $314,125.00. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 62,291 shares of company stock worth $1,664,077. Corporate insiders own 8.50% 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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