Wolverine World Wide, Inc. (NYSE:WWW)‘s stock had its “hold” rating reaffirmed by KeyCorp in a research report issued to clients and investors on Wednesday.
Other research analysts have also issued reports about the company. Pivotal Research initiated coverage on Wolverine World Wide in a research report on Thursday, October 5th. They set a “hold” rating and a $32.00 price target for the company. Morgan Stanley raised their price target on Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a research report on Monday, September 25th. Robert W. Baird restated a “buy” rating and set a $32.00 price target on shares of Wolverine World Wide in a research report on Sunday, September 17th. ValuEngine lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.06.
Wolverine World Wide (NYSE:WWW) opened at 27.80 on Wednesday. The company’s 50-day moving average price is $27.52 and its 200-day moving average price is $26.34. The stock has a market cap of $2.69 billion, a PE ratio of 32.67 and a beta of 0.98. Wolverine World Wide has a 12-month low of $20.58 and a 12-month high of $29.62.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.14. The company had revenue of $598.80 million during the quarter, compared to analyst estimates of $573.78 million. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities analysts expect that Wolverine World Wide will post $1.62 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in WWW. Bank of Montreal Can boosted its holdings in Wolverine World Wide by 1.3% in the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after purchasing an additional 64 shares during the period. Jane Street Group LLC purchased a new position in Wolverine World Wide in the first quarter valued at $200,000. Everence Capital Management Inc. purchased a new position in Wolverine World Wide in the second quarter valued at $202,000. Papp L Roy & Associates purchased a new position in Wolverine World Wide in the second quarter valued at $204,000. Finally, Ronna Sue Cohen purchased a new position in Wolverine World Wide in the first quarter valued at $208,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.
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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