Wolverine World Wide’s (WWW) Market Perform Rating Reiterated at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a note issued to investors on Wednesday, Benzinga reports. They presently have a $10.00 price target on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential downside of 17.01% from the stock’s current price.

Separately, Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Wolverine World Wide presently has an average rating of “Hold” and an average price target of $10.63.

Wolverine World Wide Stock Up 5.5 %

Shares of NYSE:WWW opened at $12.05 on Wednesday. The firm has a fifty day moving average of $10.20 and a 200 day moving average of $9.24. Wolverine World Wide has a 52-week low of $7.21 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18. The firm has a market capitalization of $962.92 million, a PE ratio of -22.39 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results 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 business had revenue of $526.70 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned ($0.15) earnings per share. As a group, research analysts anticipate that Wolverine World Wide will post 0.77 EPS for the current fiscal year.

Institutional Trading of Wolverine World Wide

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Wolverine World Wide by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker’s stock valued at $74,815,000 after acquiring an additional 109,833 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wolverine World Wide by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Wolverine World Wide by 2.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,542,637 shares of the textile maker’s stock valued at $12,434,000 after buying an additional 32,100 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Wolverine World Wide by 13.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after buying an additional 175,039 shares during the last quarter. Finally, Callodine Capital Management LP purchased a new position in Wolverine World Wide during the third quarter worth $8,060,000. 90.25% of the stock is currently owned by 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.