Telsey Advisory Group Reiterates “Market Perform” Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $23.00 target price on the textile maker’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 51.53% from the stock’s current price.

WWW has been the topic of several other reports. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Stock Down 2.8 %

Shares of NYSE WWW opened at $15.18 on Wednesday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -17.06 and a beta of 1.88. Wolverine World Wide has a 52 week low of $8.25 and a 52 week high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The firm’s fifty day moving average is $21.88 and its 200 day moving average is $18.78.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a positive return on equity of 6.37% and a negative net margin of 3.80%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. On average, equities research analysts expect that Wolverine World Wide will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the sale, the insider now owns 34,206 shares in the company, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.28% of the stock is owned by insiders.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide in the 4th quarter worth about $25,000. Signaturefd LLC increased its stake in Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares during the period. Natixis purchased a new position in Wolverine World Wide in the 4th quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide during the fourth quarter valued at approximately $64,000. Finally, KBC Group NV raised its position in Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 1,311 shares in the last quarter. 90.25% of the stock is currently owned by 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.