Weyco Group (NASDAQ:WEYS) Rating Lowered 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 upgraded Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Weyco Group has a consensus rating of “Buy”.

Weyco Group Trading Down 0.8%

Shares of WEYS opened at $31.06 on Friday. The company has a market cap of $296.62 million, a price-to-earnings ratio of 12.89 and a beta of 0.99. The business’s fifty day simple moving average is $31.35 and its two-hundred day simple moving average is $30.76. Weyco Group has a 12 month low of $25.51 and a 12 month high of $34.92.

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

Hedge Funds Weigh In On Weyco Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co purchased a new position in shares of Weyco Group in the 4th quarter worth $30,000. BNP Paribas Financial Markets increased its position in Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after acquiring an additional 832 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Weyco Group in the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC lifted its holdings in Weyco Group by 172.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,133 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Weyco Group in the fourth quarter worth about $72,000. 23.59% of the stock is owned by institutional investors.

Weyco Group Company Profile

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.