Stifel Nicolaus Issues Positive Forecast for Wolverine World Wide (NYSE:WWW) Stock Price

Key Points

• Stifel Nicolaus has raised its target price for Wolverine World Wide from $30.00 to $36.00, indicating a potential upside of 14.33% based on the stock's previous close.
• The company's earnings report showed an EPS of $0.35, beating the consensus estimate of $0.23, with a revenue increase of 11.5% compared to the same quarter last year.
• Wolverine World Wide has received an overall consensus rating of "Buy", with a notable portion of the stock (90.25%) owned by institutional investors.

Wolverine World Wide (NYSE:WWW - Get Free Report) had its target price increased by equities research analysts at Stifel Nicolaus from $30.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the textile maker's stock. Stifel Nicolaus' price target points to a potential upside of 14.33% from the stock's previous close.

Several other equities research analysts also recently commented on WWW. Robert W. Baird upped their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, May 16th. Telsey Advisory Group restated a "market perform" rating and issued a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $27.50.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $31.49 on Wednesday. Wolverine World Wide has a one year low of $9.58 and a one year high of $31.53. The company has a market capitalization of $2.56 billion, a PE ratio of 30.87 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a fifty day moving average of $22.75 and a 200-day moving average of $17.62.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business had revenue of $474.20 million during the quarter, compared to the consensus estimate of $447.82 million. During the same period in the prior year, the business posted $0.15 earnings per share. Wolverine World Wide's revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its stake in shares of Wolverine World Wide by 67.6% in the 2nd quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker's stock valued at $6,018,000 after acquiring an additional 134,219 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Wolverine World Wide by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker's stock valued at $1,074,000 after purchasing an additional 782 shares during the period. Nomura Holdings Inc. bought a new position in shares of Wolverine World Wide in the second quarter valued at approximately $1,090,000. Public Sector Pension Investment Board raised its position in shares of Wolverine World Wide by 7.1% in the second quarter. Public Sector Pension Investment Board now owns 308,361 shares of the textile maker's stock valued at $5,575,000 after purchasing an additional 20,563 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Wolverine World Wide by 109.0% in the second quarter. Tower Research Capital LLC TRC now owns 10,775 shares of the textile maker's stock valued at $195,000 after purchasing an additional 5,620 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.

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