Wolverine World Wide (NYSE:WWW – Get Free Report) was upgraded by research analysts at Williams Trading from a “hold” rating to a “buy” rating in a report released on Thursday, Benzinga reports. The brokerage currently has a $16.00 target price on the textile maker’s stock, up from their previous target price of $11.00. Williams Trading’s price target would suggest a potential upside of 20.57% from the company’s previous close.
A number of other analysts have also issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday. Robert W. Baird raised their price target on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Seaport Res Ptn raised Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.67.
View Our Latest Stock Analysis on WWW
Wolverine World Wide Price Performance
Wolverine World Wide (NYSE:WWW – Get 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). The company had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The firm’s revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. As a group, research analysts predict that Wolverine World Wide will post 0.77 EPS for the current fiscal year.
Institutional Investors Weigh In On Wolverine World Wide
Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Wolverine World Wide in the 1st quarter worth $81,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Wolverine World Wide during the third quarter worth $93,000. Aristeia Capital LLC acquired a new position in Wolverine World Wide in the 3rd quarter worth approximately $103,000. Finally, Oxford Asset Management LLP acquired a new stake in Wolverine World Wide during the 4th quarter worth about $124,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
About Wolverine World Wide
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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