Weyco Group Inc. (WEYS) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Weyco Group Inc. (NASDAQ:WEYS) from a sell rating to a buy rating in a research report released on Saturday morning. Zacks Investment Research currently has $33.00 price objective on the stock.
According to Zacks, “Weyco Group Inc. is engage in the business of the manufacture, purchase and distribution of men’s footwear. The principal brands of shoes sold are Nunn Bush, Brass Boot, and Stacy Adams. The company’s products consist of both mid-priced quality leather dress shoes which would be worn as a part of more formal and traditional attire and lower priced quality casual footwear of man-made materials or leather which would be used for leisure or less formal occasions. “
Several other equities analysts have also weighed in on WEYS. B. Riley restated a neutral rating and issued a $24.00 price target on shares of Weyco Group in a research note on Tuesday. TheStreet lowered Weyco Group from a buy rating to a hold rating in a research note on Wednesday, August 3rd.
Shares of Weyco Group (NASDAQ:WEYS) opened at 29.74 on Friday. The company has a market capitalization of $313.43 million, a price-to-earnings ratio of 19.59 and a beta of 0.56. Weyco Group has a 1-year low of $22.94 and a 1-year high of $30.11. The stock has a 50 day moving average price of $26.44 and a 200 day moving average price of $26.87.
Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.08. Weyco Group had a return on equity of 7.69% and a net margin of 5.06%. The firm earned $79.10 million during the quarter, compared to analyst estimates of $80.54 million. On average, equities analysts anticipate that Weyco Group will post $1.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Monday, December 5th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.84 annualized dividend and a yield of 2.82%. Weyco Group’s dividend payout ratio (DPR) is currently 58.74%.
A number of large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in Weyco Group by 1.5% in the third quarter. California State Teachers Retirement System now owns 13,823 shares of the company’s stock valued at $371,000 after buying an additional 200 shares during the period. Rhumbline Advisers raised its stake in Weyco Group by 3.2% in the third quarter. Rhumbline Advisers now owns 9,738 shares of the company’s stock valued at $262,000 after buying an additional 300 shares during the period. Teachers Advisors LLC raised its stake in Weyco Group by 1.3% in the third quarter. Teachers Advisors LLC now owns 10,144 shares of the company’s stock valued at $273,000 after buying an additional 126 shares during the period. BlackRock Fund Advisors raised its stake in Weyco Group by 6.3% in the third quarter. BlackRock Fund Advisors now owns 181,776 shares of the company’s stock valued at $4,884,000 after buying an additional 10,779 shares during the period. Finally, Deprince Race & Zollo Inc. raised its stake in Weyco Group by 0.7% in the third quarter. Deprince Race & Zollo Inc. now owns 107,412 shares of the company’s stock valued at $2,886,000 after buying an additional 695 shares during the period. Institutional investors own 32.01% of the company’s stock.
Weyco Group Company Profile
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.
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