Wolverine World Wide (NYSE:WWW) Price Target Raised to $36.00

Key Points

• UBS Group raised its target price for Wolverine World Wide (NYSE: WWW) from $30.00 to $36.00, suggesting a potential upside of 30.10% from its current stock price.
• Other analysts have also given positive ratings, with Argus upgrading the stock to a "buy" and setting a target price of $20.00, while KeyCorp issued a target of $32.00. Currently, the stock holds an average rating of "Moderate Buy."
• Wolverine World Wide reported earnings of $0.35 per share for the recent quarter, significantly exceeding analysts' expectations and reflecting an 11.5% year-over-year revenue increase.

Wolverine World Wide (NYSE:WWW - Get Free Report) had its price target raised by investment analysts at UBS Group from $30.00 to $36.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. UBS Group's price objective indicates a potential upside of 34.35% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Telsey Advisory Group reaffirmed a "market perform" rating and set a $29.00 price target (up previously from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Friday, May 16th. Piper Sandler reissued an "overweight" rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Finally, Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $25.38.

Wolverine World Wide Stock Performance

Wolverine World Wide stock traded down $0.65 during mid-day trading on Thursday, reaching $26.80. 1,756,794 shares of the company's stock were exchanged, compared to its average volume of 2,119,685. The business's fifty day simple moving average is $20.26 and its 200 day simple moving average is $17.07. The firm has a market capitalization of $2.18 billion, a PE ratio of 26.27 and a beta of 1.74. Wolverine World Wide has a one year low of $9.58 and a one year high of $28.57. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The firm had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%. The business's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, sell-side analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Natixis acquired a new position in shares of Wolverine World Wide during the 4th quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the 4th quarter valued at about $64,000. Hilltop National Bank acquired a new stake in Wolverine World Wide in the 2nd quarter valued at about $85,000. PNC Financial Services Group Inc. raised its holdings in Wolverine World Wide by 10.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker's stock valued at $127,000 after acquiring an additional 863 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Wolverine World Wide by 48.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker's stock valued at $145,000 after acquiring an additional 2,619 shares during the last quarter. Institutional investors and hedge funds 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.