Weyco Group (WEYS) Upgraded by ValuEngine to “Buy”

Weyco Group (NASDAQ:WEYS) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, BidaskClub lowered shares of Weyco Group from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd.

Shares of WEYS opened at $31.97 on Wednesday. The firm has a market cap of $307.44 million, a PE ratio of 19.27 and a beta of 0.40. Weyco Group has a 1-year low of $27.00 and a 1-year high of $39.93.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter. The firm had revenue of $60.89 million for the quarter. Weyco Group had a net margin of 6.13% and a return on equity of 7.87%.

In other news, VP Michael Bernsteen sold 1,100 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $35.58, for a total transaction of $39,138.00. Following the sale, the vice president now directly owns 8,056 shares of the company’s stock, valued at $286,632.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Wittkowske sold 4,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $39.08, for a total transaction of $156,320.00. Following the sale, the chief financial officer now directly owns 98,610 shares in the company, valued at $3,853,678.80. The disclosure for this sale can be found here. Insiders have sold 10,078 shares of company stock worth $383,747 over the last three months. Corporate insiders own 43.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. First Trust Advisors LP purchased a new stake in Weyco Group in the third quarter valued at $337,000. Baird Financial Group Inc. boosted its holdings in Weyco Group by 150.1% in the second quarter. Baird Financial Group Inc. now owns 110,551 shares of the textile maker’s stock valued at $4,024,000 after purchasing an additional 66,355 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Weyco Group by 30.2% in the second quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock valued at $2,355,000 after purchasing an additional 14,999 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Weyco Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 490,952 shares of the textile maker’s stock valued at $17,871,000 after purchasing an additional 30,584 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Weyco Group by 2.0% in the second quarter. BlackRock Inc. now owns 433,871 shares of the textile maker’s stock valued at $15,792,000 after purchasing an additional 8,679 shares during the last quarter. 30.76% of the stock is currently owned by institutional investors.

About Weyco Group

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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