Wolverine World Wide’s (WWW) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $23.00 price target on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential upside of 48.08% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.38.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $15.53 on Wednesday. The stock’s 50-day simple moving average is $22.30 and its 200-day simple moving average is $18.79. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The firm has a market capitalization of $1.24 billion, a PE ratio of -17.61 and a beta of 1.88. Wolverine World Wide has a fifty-two week low of $8.25 and a fifty-two week high of $24.64.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Wolverine World Wide had a negative net margin of 3.80% and a positive return on equity of 6.37%. During the same period in the prior year, the business posted ($0.30) EPS. As a group, equities research analysts forecast that Wolverine World Wide will post 0.9 EPS 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 the stock in a transaction that occurred on Monday, November 25th. The stock was 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 of the company’s stock, valued at $806,235.42. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Wolverine World Wide by 237.0% in the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after buying an additional 6,219 shares in the last quarter. US Bancorp DE grew its position in Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after purchasing an additional 30,519 shares in the last quarter. GSA Capital Partners LLP lifted its position in Wolverine World Wide by 33.9% in the 3rd quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock worth $1,683,000 after buying an additional 24,477 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Wolverine World Wide during the 3rd quarter valued at $195,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Wolverine World Wide by 5.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker’s stock worth $2,541,000 after acquiring an additional 7,577 shares during the last quarter. 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.