UBS Group Boosts Wolverine World Wide (NYSE:WWW) Price Target to $13.00

Wolverine World Wide (NYSE:WWWGet Free Report) had its target price boosted by analysts at UBS Group from $11.00 to $13.00 in a research note issued 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 3.63% from the stock’s previous close.

WWW has been the subject of a number of other reports. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday. Robert W. Baird increased their price target on shares of Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the stock from $11.00 to $16.00 in a research report on Thursday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide currently has an average rating of “Hold” and an average target price of $11.67.

Check Out Our Latest Research Report on Wolverine World Wide

Wolverine World Wide Price Performance

Shares of NYSE:WWW traded up $0.12 during trading hours on Thursday, hitting $13.49. 1,703,693 shares of the company’s stock traded hands, compared to its average volume of 1,019,815. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.75 and a current ratio of 1.13. Wolverine World Wide has a 52 week low of $7.21 and a 52 week high of $16.90. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -14.51 and a beta of 1.73. The company’s fifty day simple moving average is $10.39 and its two-hundred day simple moving average is $9.33.

Wolverine World Wide (NYSE:WWWGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. The firm had revenue of $526.70 million for the quarter, compared to analysts’ expectations of $520.12 million. During the same period in the prior year, the company posted ($0.15) earnings per share. Wolverine World Wide’s quarterly revenue was down 20.8% compared to the same quarter last year. As a group, equities analysts anticipate that Wolverine World Wide will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. Strs Ohio acquired a new stake in shares of Wolverine World Wide in the third quarter worth $585,000. Nisa Investment Advisors LLC grew its stake in shares of Wolverine World Wide by 11.1% in the third quarter. Nisa Investment Advisors LLC now owns 48,730 shares of the textile maker’s stock worth $393,000 after acquiring an additional 4,880 shares during the last quarter. Jump Financial LLC grew its stake in shares of Wolverine World Wide by 30.0% in the third quarter. Jump Financial LLC now owns 32,441 shares of the textile maker’s stock worth $261,000 after acquiring an additional 7,483 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Wolverine World Wide in the third quarter worth $164,000. Finally, Swiss National Bank grew its stake in shares of Wolverine World Wide by 1.0% in 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. Institutional investors and hedge funds own 90.25% of the company’s stock.

About Wolverine World Wide

(Get Free Report)

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.

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