Brokerages Set Wolverine World Wide, Inc. (WWW) Price Target at $27.06
Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given an average rating of “Hold” by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.06.
Several research firms have recently issued reports on WWW. Zacks Investment Research lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Pivotal Research began coverage on shares of Wolverine World Wide in a research note on Thursday, October 5th. They set a “hold” rating and a $32.00 target price on the stock. Telsey Advisory Group increased their target price on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Robert W. Baird reissued a “buy” rating and set a $32.00 target price on shares of Wolverine World Wide in a research note on Sunday, September 17th. Finally, Buckingham Research increased their target price on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th.
In related news, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Jeppesen sold 11,807 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. 5.65% of the stock is owned by corporate insiders.
Wolverine World Wide (WWW) traded up $0.07 during trading hours on Monday, reaching $31.77. 685,431 shares of the company’s stock traded hands, compared to its average volume of 988,979. Wolverine World Wide has a one year low of $20.94 and a one year high of $32.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09. The stock has a market capitalization of $3,020.00, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 3.92% and a return on equity of 9.10%. The business had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. research analysts predict that Wolverine World Wide will post 1.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.68%.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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