Piper Sandler Issues Pessimistic Forecast for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its price objective cut by analysts at Piper Sandler from $27.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the textile maker’s stock. Piper Sandler’s price objective indicates a potential upside of 62.53% from the stock’s current price.

A number of other brokerages have also weighed in on WWW. UBS Group decreased their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird cut their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $11.08 on Friday. The stock has a fifty day moving average price of $14.84 and a 200 day moving average price of $18.71. Wolverine World Wide has a 52 week low of $9.07 and a 52 week high of $24.64. The firm has a market capitalization of $897.46 million, a P/E ratio of 20.14 and a beta of 1.74. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current year.

Institutional Trading of Wolverine World Wide

Several large investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in Wolverine World Wide by 0.8% during the 1st quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker’s stock valued at $3,150,000 after purchasing an additional 1,852 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Wolverine World Wide by 1,380.1% during the 1st quarter. GAMMA Investing LLC now owns 74,850 shares of the textile maker’s stock valued at $1,041,000 after buying an additional 69,793 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth approximately $204,000. Mackenzie Financial Corp increased its stake in shares of Wolverine World Wide by 247.2% in the fourth quarter. Mackenzie Financial Corp now owns 40,616 shares of the textile maker’s stock worth $902,000 after buying an additional 28,917 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Wolverine World Wide by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,818 shares of the textile maker’s stock valued at $4,458,000 after acquiring an additional 16,710 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.