Wolverine World Wide (WWW) Given New $30.00 Price Target at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW) had its target price boosted by investment analysts at Telsey Advisory Group from $29.00 to $30.00 in a report released on Thursday, November 9th, MarketBeat.com reports. The firm presently has a “market perform” rating on the textile maker’s stock. Telsey Advisory Group’s target price indicates a potential upside of 5.78% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Robert W. Baird reissued a “buy” rating and set a $32.00 target price on shares of Wolverine World Wide in a research report on Sunday, September 17th. Morgan Stanley upped their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a report on Monday, September 25th. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 target price on shares of Wolverine World Wide in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.65.

Shares of Wolverine World Wide (WWW) traded up $0.56 during midday trading on Thursday, hitting $28.36. 572,095 shares of the stock were exchanged, compared to its average volume of 779,292. Wolverine World Wide has a 1-year low of $20.94 and a 1-year high of $29.62. The stock has a market capitalization of $2,696.28, a P/E ratio of 18.06, a PEG ratio of 1.38 and a beta of 0.94. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm had revenue of $581.30 million during the quarter, compared to the consensus estimate of $552.36 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Wolverine World Wide’s revenue was down 3.7% compared to the same quarter last year. analysts expect that Wolverine World Wide will post 1.64 EPS for the current fiscal year.

In other Wolverine World Wide news, insider Michael Jeppesen sold 11,807 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total transaction of $330,241.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.65% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WWW. Bank of Montreal Can grew its holdings in Wolverine World Wide by 1.3% during 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 last quarter. Everence Capital Management Inc. bought a new stake in shares of Wolverine World Wide in the second quarter valued at approximately $202,000. Papp L Roy & Associates bought a new stake in shares of Wolverine World Wide in the second quarter valued at approximately $204,000. Riverhead Capital Management LLC boosted its position in shares of Wolverine World Wide by 62.2% in the second quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after acquiring an additional 2,925 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Wolverine World Wide in the second quarter worth $221,000. 92.50% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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