Weyco Group (NASDAQ:WEYS) Lowered to Buy at StockNews.com

Weyco Group (NASDAQ:WEYSGet Rating) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Weyco Group Stock Down 1.2 %

Shares of Weyco Group stock opened at $27.12 on Friday. The stock has a market cap of $258.89 million, a P/E ratio of 7.91 and a beta of 0.90. Weyco Group has a 12-month low of $19.89 and a 12-month high of $32.45. The business’s 50 day moving average is $25.62 and its 200-day moving average is $25.38.

Weyco Group (NASDAQ:WEYSGet Rating) last posted its quarterly earnings results on Tuesday, March 7th. The textile maker reported $1.06 earnings per share for the quarter. The business had revenue of $99.05 million for the quarter. Weyco Group had a return on equity of 15.23% and a net margin of 9.23%.

Institutional Investors Weigh In On Weyco Group

Institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of Weyco Group in the fourth quarter valued at approximately $33,000. First Business Financial Services Inc. boosted its position in shares of Weyco Group by 9.6% during the 3rd quarter. First Business Financial Services Inc. now owns 10,802 shares of the textile maker’s stock worth $220,000 after acquiring an additional 950 shares in the last quarter. Raymond James & Associates bought a new position in Weyco Group in the third quarter valued at approximately $227,000. Janney Montgomery Scott LLC acquired a new position in Weyco Group during the third quarter valued at approximately $209,000. Finally, BNP Paribas Arbitrage SNC lifted its stake in Weyco Group by 95.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 2,830 shares of the textile maker’s stock worth $58,000 after purchasing an additional 1,385 shares during the last quarter. Institutional investors own 22.63% of the company’s stock.

About Weyco Group

(Get Rating)

Weyco Group, Inc engages in the design, production and trade of footwear for men, women and children. It operates through the following segments: North American Wholesale Operations and North American Retail Operations. The North American Wholesale Operations segment includes selling products to department stores and specialty shops in the United States and Canada.

Further Reading

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