Weyco Group, Inc. (NASDAQ:WEYS) Downgraded to Sell at BidaskClub
BidaskClub downgraded shares of Weyco Group, Inc. (NASDAQ:WEYS) from a hold rating to a sell rating in a report released on Sunday morning.
WEYS has been the topic of several other research reports. Zacks Investment Research upgraded shares of Weyco Group from a strong sell rating to a hold rating in a report on Wednesday, July 5th. B. Riley restated a neutral rating and set a $26.00 target price on shares of Weyco Group in a report on Sunday, May 7th.
Weyco Group (NASDAQ:WEYS) traded down 0.76% during mid-day trading on Friday, hitting $27.48. The stock had a trading volume of 8,600 shares. The company has a market cap of $285.87 million, a price-to-earnings ratio of 18.04 and a beta of 0.69. Weyco Group has a one year low of $23.75 and a one year high of $32.30. The company has a 50 day moving average price of $27.60 and a 200-day moving average price of $28.16.
Weyco Group (NASDAQ:WEYS) last posted its earnings results on Thursday, May 4th. The textile maker reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $69.12 million for the quarter, compared to analyst estimates of $76.30 million. Weyco Group had a net margin of 5.57% and a return on equity of 6.83%. Equities analysts expect that Weyco Group will post $1.36 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, May 26th were issued a dividend of $0.22 per share. This is a positive change from Weyco Group’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, May 24th. This represents a $0.88 annualized dividend and a dividend yield of 3.20%. Weyco Group’s payout ratio is presently 57.90%.
Several institutional investors have recently bought and sold shares of WEYS. State Street Corp raised its position in Weyco Group by 14.3% in the fourth quarter. State Street Corp now owns 117,207 shares of the textile maker’s stock valued at $3,665,000 after buying an additional 14,663 shares during the last quarter. Teachers Advisors LLC raised its position in Weyco Group by 27.1% in the fourth quarter. Teachers Advisors LLC now owns 12,890 shares of the textile maker’s stock valued at $403,000 after buying an additional 2,746 shares during the last quarter. Martingale Asset Management L P raised its position in Weyco Group by 29.4% in the first quarter. Martingale Asset Management L P now owns 22,902 shares of the textile maker’s stock valued at $644,000 after buying an additional 5,201 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Weyco Group by 5.0% in the first quarter. Coldstream Capital Management Inc. now owns 16,843 shares of the textile maker’s stock valued at $473,000 after buying an additional 803 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Weyco Group by 1.7% in the first quarter. Baird Financial Group Inc. now owns 43,566 shares of the textile maker’s stock valued at $1,223,000 after buying an additional 713 shares during the last quarter. Institutional investors and hedge funds own 32.12% of the company’s stock.
About Weyco Group
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).
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