Wolverine World Wide (NYSE:WWW) Price Target Increased to $13.00 by Analysts at UBS Group

Wolverine World Wide (NYSE:WWW) had its target price lifted by analysts at UBS Group from $11.00 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. UBS Group’s target price indicates a potential downside of 2.03% from the company’s previous close.

A number of other brokerages have also weighed in on WWW. Robert W. Baird lifted their price objective on Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. Telsey Advisory Group reissued a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $16.00 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.67.

Wolverine World Wide Trading Up 4.2 %

Shares of NYSE:WWW traded up $0.53 during mid-day trading on Thursday, reaching $13.27. 1,335,756 shares of the company were exchanged, compared to its average volume of 893,119. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The firm’s 50-day simple moving average is $10.26 and its 200 day simple moving average is $9.27. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $17.85. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -26.02 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last announced 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 firm had revenue of $526.70 million during the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. Equities research analysts forecast that Wolverine World Wide will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Callodine Capital Management LP purchased a new stake in shares of Wolverine World Wide in the third quarter valued at $8,060,000. Wolverine Asset Management LLC boosted its position in Wolverine World Wide by 493.5% during the third quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock valued at $1,562,000 after purchasing an additional 161,109 shares during the last quarter. Invesco Ltd. raised its stake in shares of Wolverine World Wide by 21.7% during the 3rd quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after purchasing an additional 142,646 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Wolverine World Wide by 18.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after buying an additional 255,872 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $172,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.