Weyco Group, Inc. (WEYS) Downgraded by BidaskClub
BidaskClub lowered shares of Weyco Group, Inc. (NASDAQ:WEYS) from a sell rating to a strong sell rating in a research note released on Friday morning.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Weyco Group from a strong sell rating to a hold rating in a research report on Wednesday, July 5th. B. Riley reiterated a neutral rating and issued a $26.00 price objective on shares of Weyco Group in a research report on Sunday, May 7th.
Weyco Group (NASDAQ:WEYS) opened at 27.88 on Friday. Weyco Group has a 1-year low of $23.75 and a 1-year high of $32.30. The stock has a 50 day moving average price of $27.88 and a 200 day moving average price of $27.75. The company has a market cap of $290.04 million, a PE ratio of 18.31 and a beta of 0.69.
Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Thursday, May 4th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Weyco Group had a net margin of 5.57% and a return on equity of 6.83%. The business had revenue of $69.12 million during the quarter, compared to the consensus estimate of $76.30 million. Equities analysts forecast that Weyco Group will post $1.36 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of WEYS. State Street Corp increased its position in shares of 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. Dimensional Fund Advisors LP increased its position in shares of Weyco Group by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 387,414 shares of the textile maker’s stock valued at $10,879,000 after buying an additional 14,509 shares during the last quarter. Strs Ohio acquired a new position in shares of Weyco Group during the second quarter valued at about $264,000. Janney Montgomery Scott LLC acquired a new position in shares of Weyco Group during the second quarter valued at about $231,000. Finally, California Public Employees Retirement System acquired a new position in shares of Weyco Group during the first quarter valued at about $202,000. Hedge funds and other institutional investors 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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