Stifel Nicolaus Lowers Wolverine World Wide (NYSE:WWW) Price Target to $19.00

Wolverine World Wide (NYSE:WWW) had its target price decreased by Stifel Nicolaus from $27.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 71.56% from the stock’s current price.

Several other analysts also recently weighed in on WWW. UBS Group dropped their target price on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird cut their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Wolverine World Wide Trading Down 0.6 %

NYSE WWW opened at $11.08 on Thursday. Wolverine World Wide has a 52 week low of $9.07 and a 52 week high of $24.64. The company has a 50 day moving average price of $14.84 and a 200 day moving average price of $18.71. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm has a market cap of $897.46 million, a PE ratio of 20.14 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Wolverine World Wide

Large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after buying an additional 249,456 shares in the last quarter. Earnest Partners LLC raised its holdings in Wolverine World Wide by 0.4% in the 4th quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock worth $116,082,000 after purchasing an additional 19,295 shares during the period. State Street Corp boosted its position in Wolverine World Wide by 0.5% during the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after purchasing an additional 16,228 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. Finally, JPMorgan Chase & Co. increased its position in shares of Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after buying an additional 998,916 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.