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

Wolverine World Wide (NYSE:WWW) had its price objective cut by stock analysts at UBS Group from $29.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. UBS Group’s price objective would suggest a potential upside of 70.88% from the company’s current price.

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

Wolverine World Wide Trading Down 2.6 %

Shares of WWW stock traded down $0.41 during trading hours on Thursday, reaching $15.22. 397,760 shares of the stock were exchanged, compared to its average volume of 1,246,280. Wolverine World Wide has a 12-month low of $8.25 and a 12-month high of $24.64. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The company’s 50-day moving average price is $22.05 and its 200-day moving average price is $18.80. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.11 and a beta of 1.88.

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

Insider Buying and Selling

In related news, insider Isabel Soriano sold 7,687 shares of the business’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 completion of the transaction, the insider now owns 34,206 shares in the company, valued at $806,235.42. The trade was a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WWW. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide during the 4th quarter worth approximately $64,943,000. JPMorgan Chase & Co. raised its stake in shares of Wolverine World Wide by 1,263.0% during the 3rd 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 in the last quarter. Jennison Associates LLC purchased a new stake in Wolverine World Wide during the 3rd quarter worth approximately $10,974,000. Capital Research Global Investors purchased a new stake in Wolverine World Wide during the 4th quarter worth approximately $13,943,000. Finally, Nuveen Asset Management LLC grew its position in Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock worth $13,949,000 after purchasing an additional 403,176 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.