Weyco Group Inc. (WEYS) Raised to “Buy” at TheStreet
Several other equities research analysts have also recently commented on the company. B. Riley restated a neutral rating and issued a $24.00 target price on shares of Weyco Group in a research note on Tuesday, November 8th. Zacks Investment Research cut Weyco Group from a hold rating to a sell rating in a research note on Saturday, November 5th.
Weyco Group (NASDAQ:WEYS) opened at 27.61 on Thursday. The company has a market capitalization of $290.98 million, a PE ratio of 18.19 and a beta of 0.56. The company has a 50-day moving average price of $26.47 and a 200 day moving average price of $26.85. Weyco Group has a 12 month low of $22.94 and a 12 month high of $30.11.
Weyco Group (NASDAQ:WEYS) last released its earnings results on Monday, November 7th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The firm had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $80.54 million. Weyco Group had a return on equity of 7.69% and a net margin of 5.06%. On average, equities research analysts forecast that Weyco Group will post $1.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Monday, December 5th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, December 1st. Weyco Group’s dividend payout ratio is currently 58.74%.
Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Weyco Group by 1.5% in the third quarter. California State Teachers Retirement System now owns 13,823 shares of the company’s stock worth $371,000 after buying an additional 200 shares in the last quarter. Rhumbline Advisers raised its position in Weyco Group by 3.2% in the third quarter. Rhumbline Advisers now owns 9,738 shares of the company’s stock worth $262,000 after buying an additional 300 shares during the last quarter. Teachers Advisors LLC raised its position in Weyco Group by 1.3% in the third quarter. Teachers Advisors LLC now owns 10,144 shares of the company’s stock worth $273,000 after buying an additional 126 shares during the last quarter. BlackRock Fund Advisors raised its position in Weyco Group by 6.3% in the third quarter. BlackRock Fund Advisors now owns 181,776 shares of the company’s stock worth $4,884,000 after buying an additional 10,779 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in Weyco Group by 0.7% in the third quarter. Deprince Race & Zollo Inc. now owns 107,412 shares of the company’s stock worth $2,886,000 after buying an additional 695 shares during the last quarter. Institutional investors own 31.97% 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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