ValuEngine Upgrades Weyco Group (WEYS) to “Buy”

ValuEngine upgraded shares of Weyco Group (NASDAQ:WEYS) from a hold rating to a buy rating in a research note published on Wednesday.

Separately, BidaskClub upgraded Weyco Group from a strong sell rating to a sell rating in a report on Tuesday, October 16th.

WEYS stock opened at $31.88 on Wednesday. Weyco Group has a 52-week low of $27.02 and a 52-week high of $39.93. The company has a market cap of $321.46 million, a price-to-earnings ratio of 20.15 and a beta of 0.53.

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

In other news, CFO John Wittkowske sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $39.08, for a total value of $156,320.00. Following the completion of the sale, the chief financial officer now directly owns 98,610 shares in the company, valued at approximately $3,853,678.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Judy Anderson sold 1,578 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $37.60, for a total value of $59,332.80. Following the completion of the sale, the vice president now owns 6,250 shares of the company’s stock, valued at $235,000. The disclosure for this sale can be found here. Insiders have sold a total of 10,078 shares of company stock worth $383,747 over the last 90 days. 43.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP bought a new stake in shares of Weyco Group in the 3rd quarter valued at approximately $337,000. Baird Financial Group Inc. increased its holdings in shares of Weyco Group by 150.1% in the 2nd quarter. Baird Financial Group Inc. now owns 110,551 shares of the textile maker’s stock valued at $4,024,000 after acquiring an additional 66,355 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Weyco Group by 30.2% in the 2nd quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock valued at $2,355,000 after acquiring an additional 14,999 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Weyco Group by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 490,952 shares of the textile maker’s stock valued at $17,871,000 after acquiring an additional 30,584 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Weyco Group by 2.0% in the 2nd quarter. BlackRock Inc. now owns 433,871 shares of the textile maker’s stock valued at $15,792,000 after acquiring an additional 8,679 shares during the last quarter. Institutional investors and hedge funds own 30.76% of the company’s stock.

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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