Wolverine World Wide (NYSE:WWW) Price Target Raised to $13.00

Wolverine World Wide (NYSE:WWW) had its price objective increased by equities researchers at UBS Group from $11.00 to $13.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price indicates a potential downside of 2.03% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the company from $11.00 to $16.00 in a research report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday. Robert W. Baird lifted their price target on shares of Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Seaport Res Ptn raised Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wolverine World Wide has an average rating of “Hold” and a consensus target price of $11.67.

Wolverine World Wide Stock Performance

Wolverine World Wide stock traded up $0.53 during trading hours on Thursday, hitting $13.27. The company had a trading volume of 1,335,756 shares, compared to its average volume of 893,119. The firm has a 50-day moving average of $10.26 and a 200 day moving average of $9.27. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The firm has a market cap of $1.06 billion, a PE ratio of -26.02 and a beta of 1.73. Wolverine World Wide has a one year low of $7.21 and a one year high of $17.85.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Callodine Capital Management LP acquired a new stake in Wolverine World Wide during the 3rd quarter worth approximately $8,060,000. Wolverine Asset Management LLC raised its stake in shares of Wolverine World Wide by 493.5% during the third quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock valued at $1,562,000 after acquiring an additional 161,109 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Wolverine World Wide by 21.7% during the third quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after purchasing an additional 142,646 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Wolverine World Wide by 18.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after purchasing an additional 255,872 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Wolverine World Wide in the fourth quarter worth $172,000. 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.