Wolverine World Wide’s (WWW) Market Perform Rating Reaffirmed at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reiterated by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price objective would suggest a potential downside of 17.01% from the company’s previous close.

Separately, Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.63.

Wolverine World Wide Stock Up 5.5 %

WWW opened at $12.05 on Wednesday. The business has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $9.24. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $17.85. The stock has a market capitalization of $962.92 million, a P/E ratio of -22.39 and a beta of 1.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The company had revenue of $526.70 million for the quarter, compared to analysts’ expectations of $520.12 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Wolverine World Wide’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, equities analysts anticipate that Wolverine World Wide will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp boosted its holdings in shares of Wolverine World Wide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 1,343 shares during the last quarter. Swiss National Bank increased its stake in Wolverine World Wide by 1.0% during the third quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock worth $1,407,000 after acquiring an additional 1,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wolverine World Wide by 15.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after purchasing an additional 2,390 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Wolverine World Wide by 11.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 48,730 shares of the textile maker’s stock valued at $393,000 after purchasing an additional 4,880 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.