Pivotal Research Initiates Coverage on Wolverine World Wide, Inc. (WWW)
Equities research analysts at Pivotal Research assumed coverage on shares of Wolverine World Wide, Inc. (NYSE:WWW) in a research note issued on Thursday. The brokerage set a “hold” rating and a $32.00 price target on the textile maker’s stock. Pivotal Research’s price target suggests a potential upside of 10.19% from the stock’s previous close.
A number of other equities research analysts also recently commented on the stock. Morgan Stanley lifted their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a report on Monday, September 25th. Robert W. Baird reiterated a “buy” rating and set a $32.00 price target on shares of Wolverine World Wide in a report on Sunday, September 17th. ValuEngine downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.06.
Shares of Wolverine World Wide (NYSE:WWW) opened at 29.04 on Thursday. The stock has a market cap of $2.81 billion, a PE ratio of 34.12 and a beta of 0.98. The company’s 50-day moving average is $27.23 and its 200 day moving average is $26.24. Wolverine World Wide has a 52 week low of $20.58 and a 52 week high of $29.62.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. The business had revenue of $598.80 million during the quarter, compared to the consensus estimate of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. Analysts forecast that Wolverine World Wide will post $1.62 earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new stake in Wolverine World Wide in the second quarter valued at approximately $9,618,000. Phocas Financial Corp. purchased a new stake in Wolverine World Wide in the second quarter valued at approximately $5,497,000. Advisory Services Network LLC grew its holdings in Wolverine World Wide by 5.3% in the second quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after purchasing an additional 421 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Wolverine World Wide in the second quarter valued at approximately $587,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Wolverine World Wide in the second quarter valued at approximately $304,000. 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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