Wolverine World Wide (NYSE:WWW) Receives “Market Perform” Rating from Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reiterated by stock analysts at Telsey Advisory Group in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $10.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price target points to a potential downside of 25.23% from the stock’s current price.

Separately, Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.67.

Wolverine World Wide Trading Up 5.0 %

WWW opened at $13.38 on Wednesday. The firm’s fifty day moving average is $10.32 and its two-hundred day moving average is $9.30. The firm has a market cap of $1.07 billion, a PE ratio of -26.23 and a beta of 1.73. Wolverine World Wide has a twelve month low of $7.21 and a twelve month high of $17.85. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The business had revenue of $526.70 million during the quarter, compared to the consensus estimate of $520.12 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue was down 20.8% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC grew its position in Wolverine World Wide by 29.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 67,482 shares of the textile maker’s stock worth $756,000 after buying an additional 15,190 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Wolverine World Wide by 66.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock valued at $413,000 after purchasing an additional 14,670 shares in the last quarter. ProShare Advisors LLC lifted its position in Wolverine World Wide by 7.5% during the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after purchasing an additional 1,090 shares during the period. Sei Investments Co. grew its stake in Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after buying an additional 12,266 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in Wolverine World Wide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after buying an additional 946 shares during the period. 90.25% of the stock is owned by institutional investors.

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.