Robert W. Baird Boosts Wolverine World Wide (NYSE:WWW) Price Target to $13.00

Wolverine World Wide (NYSE:WWW) had its price target raised by analysts at Robert W. Baird from $9.00 to $13.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 2.12% from the company’s current price.

Other analysts have also issued research reports about the stock. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday. Telsey Advisory Group reiterated a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Wolverine World Wide currently has an average rating of “Hold” and a consensus price target of $10.38.

Wolverine World Wide Trading Up 11.5 %

Shares of WWW stock opened at $12.73 on Thursday. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -24.96 and a beta of 1.73. The stock has a 50-day moving average of $10.26 and a 200-day moving average of $9.27.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The business had revenue of $526.70 million during the quarter, compared to the consensus estimate of $520.12 million. During the same period last year, the business posted ($0.15) earnings per share. The business’s revenue was down 20.8% on a year-over-year basis. On average, equities research analysts forecast that Wolverine World Wide will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Wolverine World Wide

Large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Wolverine World Wide by 66.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock valued at $413,000 after purchasing an additional 14,670 shares in the last quarter. ProShare Advisors LLC grew its position in Wolverine World Wide by 7.5% during the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after buying an additional 1,090 shares during the period. Sei Investments Co. increased its stake in shares of Wolverine World Wide by 1.8% in the 1st quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after purchasing an additional 12,266 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after acquiring an additional 946 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Wolverine World Wide in the first quarter worth $81,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.