Wolverine World Wide (NYSE:WWW) Stock Rating Upgraded by Williams Trading

Wolverine World Wide (NYSE:WWWGet Free Report) was upgraded by equities researchers at Williams Trading from a “hold” rating to a “buy” rating in a research report issued on Thursday, Benzinga reports. The firm currently has a $16.00 price target on the textile maker’s stock, up from their prior price target of $11.00. Williams Trading’s price objective would suggest a potential upside of 18.61% from the company’s current price.

A number of other analysts also recently weighed in on the company. Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday. Finally, Robert W. Baird upped their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.67.

View Our Latest Stock Report on Wolverine World Wide

Wolverine World Wide Stock Performance

NYSE WWW traded up $0.12 on Thursday, hitting $13.49. 1,703,693 shares of the stock were exchanged, compared to its average volume of 1,019,815. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.13 and a quick ratio of 0.75. The business’s fifty day moving average is $10.39 and its 200 day moving average is $9.33. Wolverine World Wide has a 52 week low of $7.21 and a 52 week high of $16.90. The company has a market capitalization of $1.08 billion, a PE ratio of -14.51 and a beta of 1.73.

Wolverine World Wide (NYSE:WWWGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate 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 company had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Wolverine World Wide’s revenue for the quarter was down 20.8% on a year-over-year basis. Research 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 have recently made changes to their positions in the stock. Callodine Capital Management LP purchased a new position in Wolverine World Wide during the third quarter worth about $8,060,000. Intrinsic Edge Capital Management LLC bought a new stake in Wolverine World Wide in the fourth quarter worth $2,563,000. Charles Schwab Investment Management Inc. boosted its position in Wolverine World Wide by 18.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock valued at $13,449,000 after buying an additional 255,872 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Wolverine World Wide by 13.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after acquiring an additional 175,039 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in shares of Wolverine World Wide by 493.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock worth $1,562,000 after buying an additional 161,109 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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