Wolverine World Wide, Inc. (NYSE:WWW)‘s stock had its “buy” rating reissued by stock analysts at Robert W. Baird in a report released on Sunday. They presently have a $32.00 price objective on the textile maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 19.18% from the company’s current price.
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Saturday, August 12th. Piper Jaffray Companies set a $25.00 target price on shares of Wolverine World Wide and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, BidaskClub lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Wolverine World Wide currently has an average rating of “Hold” and a consensus target price of $24.14.
Wolverine World Wide (WWW) opened at 26.85 on Friday. The stock has a 50 day moving average of $26.79 and a 200-day moving average of $25.92. Wolverine World Wide has a 12 month low of $20.58 and a 12 month high of $28.64. The stock has a market cap of $2.59 billion, a P/E ratio of 31.55 and a beta of 0.94.
Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The firm had revenue of $598.80 million for the quarter, compared to analyst estimates of $573.78 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Wolverine World Wide will post $1.61 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas purchased a new position in Wolverine World Wide in the second quarter valued at approximately $221,000. Airain ltd purchased a new position in shares of Wolverine World Wide during the first quarter worth approximately $448,000. FMR LLC grew its position in shares of Wolverine World Wide by 6.8% during the first quarter. FMR LLC now owns 1,937,005 shares of the textile maker’s stock worth $48,367,000 after acquiring an additional 123,641 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wolverine World Wide by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock worth $117,039,000 after acquiring an additional 226,965 shares during the last quarter. Finally, KCG Holdings Inc. grew its position in shares of Wolverine World Wide by 342.0% during the first quarter. KCG Holdings Inc. now owns 77,112 shares of the textile maker’s stock worth $1,925,000 after acquiring an additional 59,666 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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