Wolverine World Wide (WWW) PT Lowered to $40.00

Wolverine World Wide (NYSE:WWW) had its price objective lowered by stock analysts at Robert W. Baird from $43.00 to $40.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s price objective indicates a potential upside of 20.55% from the company’s current price.

A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Susquehanna Bancshares upgraded shares of Wolverine World Wide from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $29.00 to $41.00 in a report on Wednesday, August 1st. Pivotal Research reiterated a “hold” rating and set a $37.00 price target on shares of Wolverine World Wide in a report on Monday, November 5th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “positive” rating in a report on Wednesday, August 1st. Finally, Telsey Advisory Group cut their price target on shares of Wolverine World Wide from $39.00 to $35.00 and set a “market perform” rating on the stock in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.42.

NYSE WWW opened at $33.18 on Thursday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.70 and a beta of 1.11. Wolverine World Wide has a fifty-two week low of $26.81 and a fifty-two week high of $39.77. The company has a current ratio of 2.65, a quick ratio of 1.86 and a debt-to-equity ratio of 0.61.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 7th. The textile maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $558.60 million for the quarter, compared to analysts’ expectations of $584.25 million. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, sell-side analysts predict that Wolverine World Wide will post 2.14 earnings per share for the current year.

In related news, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $38.73, for a total value of $750,432.48. Following the transaction, the insider now owns 123,040 shares in the company, valued at $4,765,339.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the completion of the transaction, the insider now owns 156,470 shares in the company, valued at approximately $5,909,871.90. The disclosure for this sale can be found here. 5.81% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC increased its stake in Wolverine World Wide by 7.4% in the second quarter. Piedmont Investment Advisors LLC now owns 22,040 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 1,519 shares in the last quarter. Aperio Group LLC increased its stake in Wolverine World Wide by 3.1% in the second quarter. Aperio Group LLC now owns 51,552 shares of the textile maker’s stock valued at $1,792,000 after purchasing an additional 1,551 shares in the last quarter. Amalgamated Bank increased its stake in Wolverine World Wide by 12.5% in the second quarter. Amalgamated Bank now owns 15,082 shares of the textile maker’s stock valued at $524,000 after purchasing an additional 1,672 shares in the last quarter. Phocas Financial Corp. increased its stake in Wolverine World Wide by 1.0% in the second quarter. Phocas Financial Corp. now owns 184,098 shares of the textile maker’s stock valued at $6,401,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. increased its position in shares of Wolverine World Wide by 3.9% during the second quarter. Eagle Boston Investment Management Inc. now owns 58,089 shares of the textile maker’s stock worth $2,019,000 after acquiring an additional 2,206 shares in the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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