Wall Street Zen Upgrades Weyco Group (NASDAQ:WEYS) to “Strong-Buy”

Weyco Group (NASDAQ:WEYS) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Weyco Group in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Weyco Group currently has an average rating of “Hold”.

Weyco Group Stock Performance

Shares of WEYS opened at $45.26 on Friday. The business’s 50-day moving average is $39.41 and its two-hundred day moving average is $35.36. The company has a market capitalization of $432.23 million, a P/E ratio of 12.47 and a beta of 0.88. Weyco Group has a fifty-two week low of $27.25 and a fifty-two week high of $48.67.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings data on Tuesday, August 4th. The textile maker reported $1.39 earnings per share for the quarter. The business had revenue of $62.22 million during the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%.

Insider Activity at Weyco Group

In other news, VP Allison Woss sold 2,511 shares of Weyco Group stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $43.63, for a total value of $109,554.93. Following the sale, the vice president owned 8,663 shares in the company, valued at $377,966.69. This trade represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Judy Anderson sold 2,602 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $43.27, for a total transaction of $112,588.54. Following the sale, the chief financial officer directly owned 14,418 shares of the company’s stock, valued at $623,866.86. This represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 8,737 shares of company stock valued at $374,746. 36.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in Weyco Group by 7.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock worth $235,000 after purchasing an additional 563 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Weyco Group by 107.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after purchasing an additional 832 shares during the last quarter. Barclays PLC boosted its holdings in shares of Weyco Group by 9.9% during the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock worth $294,000 after purchasing an additional 869 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Weyco Group in the fourth quarter valued at approximately $30,000. Finally, Ritholtz Wealth Management grew its position in shares of Weyco Group by 16.0% in the fourth quarter. Ritholtz Wealth Management now owns 7,874 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 1,084 shares in the last quarter. 23.59% of the stock is owned by hedge funds and other 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.