UBS Group Has Lowered Expectations for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its target price dropped by equities researchers at UBS Group from $29.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s price target would indicate a potential upside of 70.88% from the stock’s previous close.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird dropped their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday. Telsey Advisory Group restated a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Stock Performance

NYSE:WWW traded down $0.41 during trading hours on Thursday, hitting $15.22. 397,760 shares of the company were exchanged, compared to its average volume of 1,246,280. The company’s 50 day moving average price is $22.05 and its 200-day moving average price is $18.80. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.11 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. Wolverine World Wide has a 52-week low of $8.25 and a 52-week high of $24.64.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $494.70 million for 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 business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) EPS. As a group, research analysts forecast that Wolverine World Wide will post 0.9 earnings per share for the current year.

Insider Activity

In other news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the transaction, the insider now directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after buying an additional 249,456 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Wolverine World Wide by 0.4% in the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock worth $116,082,000 after buying an additional 19,295 shares in the last quarter. State Street Corp lifted its stake in shares of Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after buying an additional 16,228 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide in the fourth quarter worth about $64,943,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after buying an additional 998,916 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other 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.