Wolverine World Wide (NYSE:WWW) Price Target Increased to $13.00 by Analysts at Robert W. Baird

Wolverine World Wide (NYSE:WWW) had its price target increased by equities researchers at Robert W. Baird from $9.00 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s price target indicates a potential upside of 2.12% from the stock’s current price.

A number of other research analysts also recently issued reports on WWW. Telsey Advisory Group restated a “market perform” rating and set a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Wolverine World Wide has an average rating of “Hold” and a consensus price target of $10.38.

Wolverine World Wide Price Performance

WWW opened at $12.73 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -24.96 and a beta of 1.73. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The stock’s 50-day moving average price is $10.26 and its 200 day moving average price is $9.27. Wolverine World Wide has a 12-month low of $7.21 and a 12-month high of $17.85.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The company had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was down 20.8% compared to the same quarter last year. As a group, sell-side analysts expect that Wolverine World Wide will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Wolverine World Wide during the 1st quarter worth $81,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth $93,000. Aristeia Capital LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $103,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $124,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.