Wolverine World Wide (NYSE:WWW) PT Raised to $25.00

Wolverine World Wide (NYSE:WWW) had its price target boosted by Stifel Nicolaus from $23.00 to $25.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target indicates a potential upside of 22.43% from the stock’s current price.

Other research analysts also recently issued reports about the company. Pivotal Research reiterated a “hold” rating and issued a $20.00 target price on shares of Wolverine World Wide in a research note on Friday, April 17th. Susquehanna Bancshares restated a “hold” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Wednesday, May 13th. ValuEngine upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Telsey Advisory Group decreased their price target on Wolverine World Wide from $30.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus target price of $26.29.

Shares of WWW stock traded up $0.19 during midday trading on Thursday, hitting $20.42. The company had a trading volume of 804,676 shares, compared to its average volume of 779,635. The company’s 50 day simple moving average is $18.23 and its 200 day simple moving average is $26.98. Wolverine World Wide has a 52-week low of $12.19 and a 52-week high of $34.70. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 1.05 and a beta of 1.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 0.76.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, April 22nd. The textile maker reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Wolverine World Wide had a return on equity of 22.11% and a net margin of 4.61%. The company had revenue of $439.30 million for the quarter, compared to the consensus estimate of $469.81 million. During the same period last year, the business posted $0.49 EPS. The company’s revenue was down 16.1% on a year-over-year basis. Analysts anticipate that Wolverine World Wide will post 1.29 EPS for the current year.

In related news, Director Jeffrey M. Boromisa sold 3,920 shares of Wolverine World Wide stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.97, for a total transaction of $105,722.40. Following the completion of the transaction, the director now directly owns 11,108 shares of the company’s stock, valued at $299,582.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Jeppesen sold 45,493 shares of Wolverine World Wide stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $27.65, for a total value of $1,257,881.45. Following the transaction, the insider now directly owns 36,757 shares of the company’s stock, valued at $1,016,331.05. The disclosure for this sale can be found here. 4.88% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC raised its holdings in shares of Wolverine World Wide by 25.5% in the first quarter. Champlain Investment Partners LLC now owns 3,396,895 shares of the textile maker’s stock worth $51,633,000 after acquiring an additional 689,300 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Wolverine World Wide by 17.1% in the fourth quarter. Earnest Partners LLC now owns 3,166,426 shares of the textile maker’s stock worth $106,835,000 after acquiring an additional 462,311 shares during the last quarter. State Street Corp raised its holdings in shares of Wolverine World Wide by 9.8% in the first quarter. State Street Corp now owns 2,698,020 shares of the textile maker’s stock worth $41,277,000 after acquiring an additional 240,644 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Wolverine World Wide by 1.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,447,996 shares of the textile maker’s stock worth $37,209,000 after acquiring an additional 35,037 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C raised its holdings in shares of Wolverine World Wide by 46.4% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,761,180 shares of the textile maker’s stock worth $26,770,000 after acquiring an additional 558,577 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' 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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