Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at Williams Trading

Wolverine World Wide (NYSE:WWW - Get Free Report) was upgraded by Williams Trading from a "hold" rating to a "buy" rating in a report released on Thursday, Benzinga reports. The brokerage currently has a $16.00 price objective on the textile maker's stock, up from their previous price objective of $11.00. Williams Trading's price target points to a potential upside of 19.63% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird boosted their price target on Wolverine World Wide from $9.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday. Seaport Res Ptn raised Wolverine World Wide from a "neutral" rating to a "buy" rating in a research note on Monday. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of "Hold" and an average target price of $11.67.

Wolverine World Wide Trading Up 5.0 %

Wolverine World Wide stock traded up $0.63 during trading hours on Thursday, reaching $13.38. The company had a trading volume of 2,130,786 shares, compared to its average volume of 904,121. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. Wolverine World Wide has a 12-month low of $7.21 and a 12-month high of $17.85. The company has a 50-day moving average price of $10.32 and a 200 day moving average price of $9.30. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73.

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

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp increased its holdings in shares of Wolverine World Wide by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker's stock valued at $775,000 after acquiring an additional 946 shares in the last quarter. ProShare Advisors LLC increased its stake in Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker's stock valued at $176,000 after purchasing an additional 1,090 shares in the last quarter. GAMMA Investing LLC raised its holdings in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker's stock worth $50,000 after buying an additional 1,343 shares during the last quarter. Swiss National Bank lifted its stake in shares of Wolverine World Wide by 1.0% in the third quarter. Swiss National Bank now owns 174,600 shares of the textile maker's stock worth $1,407,000 after buying an additional 1,700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wolverine World Wide by 15.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker's stock valued at $159,000 after buying an additional 2,390 shares during the last quarter. Hedge funds and other 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.