StockNews.com Initiates Coverage on Weyco Group (NASDAQ:WEYS)

StockNews.com began coverage on shares of Weyco Group (NASDAQ:WEYSGet Rating) in a research note issued on Friday. The firm set a “buy” rating on the textile maker’s stock.

WEYS stock opened at $27.15 on Friday. The stock’s 50 day moving average is $25.08 and its 200-day moving average is $24.26. The firm has a market capitalization of $262.40 million, a PE ratio of 11.31 and a beta of 0.51. Weyco Group has a twelve month low of $20.58 and a twelve month high of $29.24.

Weyco Group (NASDAQ:WEYSGet Rating) last released its earnings results on Tuesday, March 8th. The textile maker reported $1.07 earnings per share (EPS) for the quarter. The business had revenue of $101.38 million during the quarter. Weyco Group had a return on equity of 12.04% and a net margin of 7.71%.

A number of institutional investors have recently bought and sold shares of WEYS. O Shaughnessy Asset Management LLC purchased a new position in Weyco Group during the third quarter worth about $198,000. Annex Advisory Services LLC bought a new stake in Weyco Group during the fourth quarter worth about $206,000. Goldman Sachs Group Inc. bought a new stake in Weyco Group during the third quarter worth about $224,000. Acadian Asset Management LLC lifted its stake in Weyco Group by 48.0% during the fourth quarter. Acadian Asset Management LLC now owns 14,124 shares of the textile maker’s stock worth $336,000 after purchasing an additional 4,582 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in shares of Weyco Group by 75.8% in the 4th quarter. Susquehanna International Group LLP now owns 22,003 shares of the textile maker’s stock valued at $527,000 after acquiring an additional 9,487 shares during the last quarter. Institutional investors and hedge funds own 18.38% of the company’s stock.

Weyco Group Company Profile (Get Rating)

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates through two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials or leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters brand names.

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