Weyco Group (NASDAQ:WEYS) Cut to “Hold” at Wall Street Zen

Weyco Group (NASDAQ:WEYS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Separately, Weiss Ratings raised shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Weyco Group Stock Performance

Shares of WEYS opened at $31.06 on Friday. The firm has a market cap of $296.62 million, a P/E ratio of 12.89 and a beta of 0.99. The business has a 50-day moving average of $31.35 and a 200 day moving average of $30.76. Weyco Group has a fifty-two week low of $25.51 and a fifty-two week high of $34.92.

Weyco Group (NASDAQ:WEYS) last announced its earnings results on Tuesday, March 3rd. The textile maker reported $0.91 EPS for the quarter. The firm had revenue of $76.80 million for the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.26%.

Hedge Funds Weigh In On Weyco Group

Large investors have recently modified their holdings of the stock. Associated Banc Corp purchased a new stake in Weyco Group during the 3rd quarter valued at about $1,345,000. Citadel Advisors LLC purchased a new position in Weyco Group in the third quarter worth about $380,000. Bailard Inc. purchased a new position in Weyco Group in the third quarter worth about $211,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Weyco Group in the second quarter worth approximately $204,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Weyco Group by 4.6% in the second quarter. Bridgeway Capital Management LLC now owns 95,961 shares of the textile maker’s stock worth $3,182,000 after buying an additional 4,186 shares in the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.