Robert W. Baird Issues Pessimistic Forecast for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its price target reduced by equities researchers at Robert W. Baird from $21.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Robert W. Baird’s target price would indicate a potential upside of 15.77% from the stock’s previous close.

A number of other research analysts also recently commented on WWW. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Finally, StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Wolverine World Wide Trading Down 17.0 %

NYSE:WWW opened at $15.55 on Thursday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. Wolverine World Wide has a 1 year low of $8.25 and a 1 year high of $24.64. The stock has a market cap of $1.24 billion, a P/E ratio of -17.47 and a beta of 1.88. The stock has a 50-day simple moving average of $22.05 and a 200-day simple moving average of $18.80.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a positive return on equity of 6.37% and a negative net margin of 3.80%. The firm had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that Wolverine World Wide will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction that occurred 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 transaction, the insider now directly owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wolverine World Wide

Several large investors have recently modified their holdings of WWW. Pacer Advisors Inc. purchased a new position in Wolverine World Wide during the 4th quarter worth $64,943,000. JPMorgan Chase & Co. increased its stake in shares of Wolverine World Wide by 1,263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the period. Jennison Associates LLC purchased a new position in Wolverine World Wide during the third quarter worth about $10,974,000. Capital Research Global Investors purchased a new position in Wolverine World Wide during the fourth quarter worth about $13,943,000. Finally, Nuveen Asset Management LLC lifted its position in Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Hedge funds and other institutional investors 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.