Wolverine World Wide (NYSE:WWW) Price Target Lowered to $18.00 at Robert W. Baird

Wolverine World Wide (NYSE:WWW) had its target price lowered by stock analysts at Robert W. Baird from $21.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s target price indicates a potential upside of 15.77% from the company’s current price.

WWW has been the topic of several other research reports. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Wolverine World Wide Stock Performance

Shares of WWW opened at $15.55 on Thursday. The company has a market capitalization of $1.24 billion, a PE ratio of -17.47 and a beta of 1.88. Wolverine World Wide has a 52-week low of $8.25 and a 52-week high of $24.64. The company has a 50-day simple moving average of $22.05 and a 200-day simple moving average of $18.80. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

Wolverine World Wide (NYSE:WWW) last posted its quarterly 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 company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. Wolverine World Wide had a negative net margin of 3.80% and a positive return on equity of 6.37%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. Equities research analysts predict that Wolverine World Wide will post 0.9 earnings per share for the current fiscal year.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the transaction, the insider now directly owns 34,206 shares in the company, valued at approximately $806,235.42. The trade was a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Wolverine World Wide during the fourth quarter worth about $25,000. Signaturefd LLC increased its stake in shares of Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 682 shares during the last quarter. Natixis purchased a new position in shares of Wolverine World Wide during the 4th quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wolverine World Wide in the fourth quarter worth approximately $64,000. Finally, KBC Group NV grew its holdings in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 1,311 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.