B. Riley Downgrades Weyco Group to Neutral

Brokerage firm B. Riley Downgrades its rating on Weyco Group(NASDAQ:WEYS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by B. Riley was issued on Aug 1, 2016.

Weyco Group (WEYS) made into the market gainers list on Mondays trading session with the shares advancing 0.20% or 0.05 points. Due to strong positive momentum, the stock ended at $25.51, which is also near the day’s high of $25.91. The stock began the session at $25.53 and the volume stood at 13,459 shares. The 52-week high of the shares is $29.18 and the 52 week low is $22.94. The company has a current market capitalization of $271 M and it has 1,06,20,918 shares in outstanding.

Weyco Group(WEYS) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Earnings per share were $0.25.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Tina M Chang (director) sold 2,000 shares at $28.00 per share price.Also, On Apr 20, 2016, Cory L Nettles (director) sold 2,000 shares at $27.98 per share price.On Nov 10, 2015, John W Florsheim (President & COO) sold 27,510 shares at $28.23 per share price, according to the Form-4 filing with the securities and exchange commission.

Weyco Group Inc. is a distributor of footwear. The Company designs and markets footwear for men women and children. Its products include leather dress shoes casual footwear outdoor boots shoes and sandals. It offers products under brands such as Florsheim Nunn Bush Stacy Adams BOGS Rafters and Umi. Its business is separated into two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). It also has other wholesale and retail businesses overseas which include its businesses in Australia South Africa and Asia Pacific and its wholesale and retail businesses in Europe. At wholesale shoes are marketed by it throughout the United States and Canada in around 10000 shoe clothing and department stores. The retail segment consists of around 16 Company-operated stores and an Internet business in the United States.

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