Wolverine World Wide (WWW) Receives Neutral Rating from Buckingham Research

Wolverine World Wide (NYSE:WWW)‘s stock had its “neutral” rating reiterated by investment analysts at Buckingham Research in a note issued to investors on Wednesday. They currently have a $32.00 price target on the textile maker’s stock. Buckingham Research’s price objective suggests a potential upside of 5.51% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Citigroup upped their price objective on Wolverine World Wide from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Zacks Investment Research lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday. Pivotal Research set a $33.00 price target on Wolverine World Wide and gave the stock a “hold” rating in a research report on Thursday, February 22nd. DA Davidson upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, February 22nd. Finally, ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $29.21.

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WWW stock opened at $30.33 on Wednesday. Wolverine World Wide has a 1-year low of $23.45 and a 1-year high of $33.82. The company has a market capitalization of $2,905.24, a PE ratio of 18.49, a P/E/G ratio of 1.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.20 and a current ratio of 2.97.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Wolverine World Wide had a return on equity of 16.20% and a net margin of 0.01%. The company had revenue of $578.60 million for the quarter, compared to analyst estimates of $579.87 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was down 20.7% compared to the same quarter last year. analysts forecast that Wolverine World Wide will post 2.03 earnings per share for the current year.

In other Wolverine World Wide news, insider James D. Zwiers sold 100,600 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.79, for a total transaction of $2,996,874.00. Following the transaction, the insider now owns 190,893 shares of the company’s stock, valued at approximately $5,686,702.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.81% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of WWW. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Wolverine World Wide by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock worth $156,000 after buying an additional 1,646 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Wolverine World Wide during the 4th quarter worth $171,000. Community Financial Services Group LLC acquired a new position in Wolverine World Wide during the 4th quarter worth $212,000. Fox Run Management L.L.C. acquired a new position in Wolverine World Wide during the 4th quarter worth $308,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Wolverine World Wide during the 4th quarter worth $310,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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