Robert W. Baird Issues Positive Forecast for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its target price lifted by stock analysts at Robert W. Baird from $15.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s target price points to a potential upside of 40.68% from the company’s current price.

A number of other brokerages also recently weighed in on WWW. UBS Group boosted their price target on Wolverine World Wide from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 target price on shares of Wolverine World Wide in a research note on Thursday, May 1st. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Finally, Piper Sandler dropped their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.75.

Wolverine World Wide Trading Up 1.0 %

WWW opened at $14.22 on Tuesday. Wolverine World Wide has a 12-month low of $9.58 and a 12-month high of $24.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock has a market capitalization of $1.15 billion, a PE ratio of 25.85 and a beta of 1.74. The firm’s fifty day moving average price is $12.96 and its 200 day moving average price is $18.19.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) EPS. As a group, research analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 12.5% during the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after purchasing an additional 563 shares during the period. HighTower Advisors LLC raised its holdings in Wolverine World Wide by 5.2% during the 4th quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock worth $256,000 after buying an additional 574 shares during the period. Summit Investment Advisors Inc. lifted its stake in Wolverine World Wide by 7.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock valued at $184,000 after buying an additional 581 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after buying an additional 682 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in shares of Wolverine World Wide by 3.8% in the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock worth $635,000 after buying an additional 1,035 shares during the period. 90.25% of the stock is 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.