Wolverine World Wide (WWW) PT Set at $38.00 by Piper Jaffray Companies
Wolverine World Wide (NYSE:WWW) has been given a $38.00 price objective by equities researchers at Piper Jaffray Companies in a research note issued on Thursday. The brokerage currently has a “hold” rating on the textile maker’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 14.53% from the stock’s current price. Piper Jaffray Companies also issued estimates for Wolverine World Wide’s Q4 2018 earnings at $0.50 EPS, Q4 2019 earnings at $0.57 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.71 EPS and FY2020 earnings at $2.55 EPS.
A number of other analysts have also recently weighed in on WWW. ValuEngine raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “positive” rating in a research report on Wednesday, August 1st. Susquehanna Bancshares upgraded Wolverine World Wide from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $29.00 to $41.00 in a research note on Wednesday, August 1st. Pivotal Research reiterated a “hold” rating and issued a $36.00 price objective (up from $34.00) on shares of Wolverine World Wide in a research note on Friday, August 3rd. Finally, Wedbush lifted their price objective on Wolverine World Wide from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, August 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.42.
Shares of NYSE:WWW opened at $33.18 on Thursday. Wolverine World Wide has a fifty-two week low of $26.81 and a fifty-two week high of $39.77. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.70 and a beta of 1.11. The company has a quick ratio of 1.86, a current ratio of 2.65 and a debt-to-equity ratio of 0.61.
In related news, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $38.73, for a total transaction of $750,432.48. Following the transaction, the insider now directly owns 123,040 shares in the company, valued at $4,765,339.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total value of $1,856,433.27. Following the transaction, the insider now owns 156,470 shares in the company, valued at $5,909,871.90. The disclosure for this sale can be found here. Insiders own 5.81% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Crawford Investment Counsel Inc. grew its stake in shares of Wolverine World Wide by 2.4% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 128,340 shares of the textile maker’s stock valued at $5,012,000 after purchasing an additional 3,000 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at approximately $819,000. BlackRock Inc. grew its stake in shares of Wolverine World Wide by 4.5% in the 3rd quarter. BlackRock Inc. now owns 13,696,666 shares of the textile maker’s stock valued at $534,856,000 after purchasing an additional 593,107 shares during the period. Martingale Asset Management L P grew its stake in shares of Wolverine World Wide by 45.7% in the 3rd quarter. Martingale Asset Management L P now owns 12,107 shares of the textile maker’s stock valued at $473,000 after purchasing an additional 3,800 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at approximately $1,488,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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