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

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reissued by investment analysts at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 price target on the textile maker’s stock. Telsey Advisory Group’s price objective would indicate a potential downside of 18.21% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Thursday, October 3rd. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Argus upgraded Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Wolverine World Wide Price Performance

NYSE:WWW opened at $18.34 on Thursday. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $18.51. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $1.47 billion, a P/E ratio of -16.57 and a beta of 1.78. The stock’s fifty day moving average is $15.65 and its two-hundred day moving average is $13.93.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company had revenue of $425.40 million for the quarter, compared to the consensus estimate of $411.20 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was down 27.8% on a year-over-year basis. Equities analysts expect that Wolverine World Wide will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after acquiring an additional 616 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Wolverine World Wide by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after acquiring an additional 800 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after acquiring an additional 946 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after acquiring an additional 973 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after acquiring an additional 1,090 shares in 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.