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

Wolverine World Wide (NYSE:WWW) had its price objective lowered by analysts at UBS Group from $29.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. UBS Group’s price objective suggests a potential upside of 71.56% from the stock’s current price.

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

Wolverine World Wide Stock Performance

Shares of NYSE WWW opened at $15.16 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm’s 50-day moving average price is $21.88 and its two-hundred day moving average price is $18.78. Wolverine World Wide has a 52-week low of $9.06 and a 52-week high of $24.64. The stock has a market capitalization of $1.21 billion, a P/E ratio of 27.55 and a beta of 1.88.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter last year, the company posted ($0.30) earnings per share. Wolverine World Wide’s revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Wolverine World Wide will post 1.13 earnings per share for the current year.

Insider Activity at Wolverine World Wide

In related news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the transaction, the insider now owns 34,206 shares in the company, valued at $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after buying an additional 563 shares during the last quarter. HighTower Advisors LLC grew its position in Wolverine World Wide by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock worth $256,000 after buying an additional 574 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Wolverine World Wide by 7.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock worth $184,000 after buying an additional 581 shares during the last quarter. Signaturefd LLC grew its position 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 buying an additional 682 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Wolverine World Wide by 3.8% in the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock worth $635,000 after buying an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.