Wolverine World Wide’s (WWW) “Market Perform” Rating Reiterated at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the textile maker’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 51.53% from the stock’s current price.

A number of other research analysts have also weighed in on WWW. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Price Performance

Shares of WWW opened at $15.18 on Wednesday. The company has a market capitalization of $1.22 billion, a P/E ratio of -17.06 and a beta of 1.88. Wolverine World Wide has a fifty-two week low of $8.25 and a fifty-two week high of $24.64. The business’s 50-day moving average is $21.88 and its two-hundred day moving average is $18.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a positive return on equity of 6.37% and a negative net margin of 3.80%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. Research analysts predict that Wolverine World Wide will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the sale, the insider now directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in shares of Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after buying an additional 6,219 shares during the last quarter. US Bancorp DE lifted its position in Wolverine World Wide by 487.8% in the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after purchasing an additional 30,519 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Wolverine World Wide by 33.9% in the 3rd quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock valued at $1,683,000 after buying an additional 24,477 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Wolverine World Wide during the 3rd quarter worth $195,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Wolverine World Wide by 5.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker’s stock worth $2,541,000 after buying an additional 7,577 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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.