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

Weyco Group (NASDAQ:WEYS – Get 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:WEYS – Get 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

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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.