UBS Group Has Lowered Expectations for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its target price lowered by research analysts at UBS Group from $29.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s price target would indicate a potential upside of 71.56% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Robert W. Baird decreased their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Trading Down 0.4 %

NYSE WWW opened at $15.16 on Thursday. Wolverine World Wide has a twelve month low of $9.06 and a twelve month high of $24.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 27.55 and a beta of 1.88. The firm’s 50 day moving average price is $21.88 and its two-hundred day moving average price is $18.78.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Equities analysts anticipate that Wolverine World Wide will post 1.13 EPS for the current year.

Insider Activity at Wolverine World Wide

In other news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the sale, the insider now owns 34,206 shares of the company’s stock, valued at $806,235.42. This represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth about $25,000. Signaturefd LLC increased its holdings in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after buying an additional 682 shares during the period. Natixis bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at approximately $64,000. Finally, KBC Group NV boosted its position in Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after buying an additional 1,311 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.