Weyco Group (NASDAQ:WEYS) Upgraded by StockNews.com to Strong-Buy Rating

Weyco Group (NASDAQ:WEYS) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Weyco Group Price Performance

WEYS stock traded up $0.09 during trading on Tuesday, hitting $29.33. 15,002 shares of the company traded hands, compared to its average volume of 12,199. The stock’s 50-day simple moving average is $34.58 and its 200 day simple moving average is $34.84. The company has a market cap of $280.37 million, a PE ratio of 9.71 and a beta of 0.71. Weyco Group has a 1 year low of $27.05 and a 1 year high of $41.05.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Tuesday, March 4th. The textile maker reported $1.04 earnings per share for the quarter. The company had revenue of $80.47 million during the quarter. Weyco Group had a return on equity of 11.52% and a net margin of 9.94%.

Institutional Trading of Weyco Group

Several institutional investors have recently bought and sold shares of WEYS. BNP Paribas Financial Markets grew its holdings in Weyco Group by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after purchasing an additional 511 shares during the period. Nisa Investment Advisors LLC grew its holdings in Weyco Group by 394.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,507 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 2,000 shares during the period. Wells Fargo & Company MN grew its holdings in Weyco Group by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,040 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 775 shares during the period. Martingale Asset Management L P acquired a new stake in Weyco Group in the fourth quarter valued at approximately $218,000. Finally, Barclays PLC grew its holdings in Weyco Group by 263.8% in the third quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock valued at $273,000 after purchasing an additional 5,803 shares during the period. 23.59% of the stock is owned by institutional investors and hedge funds.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.