Citigroup Boosts Wolverine World Wide (WWW) Price Target to $33.00

Wolverine World Wide (NYSE:WWW) had its target price raised by investment analysts at Citigroup from $32.00 to $33.00 in a research note issued on Thursday. The firm presently has a “neutral” rating on the textile maker’s stock. Citigroup’s price objective would indicate a potential upside of 6.66% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus set a $34.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a report on Saturday, December 16th. DA Davidson raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, February 15th. Pivotal Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the stock from $32.00 to $33.00 in a report on Wednesday, November 8th. Finally, TheStreet cut shares of Wolverine World Wide from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $28.23.

Shares of Wolverine World Wide (WWW) traded up $1.43 during trading hours on Thursday, hitting $30.94. 269,637 shares of the stock were exchanged, compared to its average volume of 901,018. Wolverine World Wide has a 1-year low of $23.45 and a 1-year high of $33.82. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2,940.27, a PE ratio of 51.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 21st. The textile maker reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The business had revenue of $578.60 million during the quarter, compared to analysts’ expectations of $579.87 million. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s revenue was down 20.7% compared to the same quarter last year. equities research analysts forecast that Wolverine World Wide will post 1.64 earnings per share for the current fiscal year.

In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.65% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Wolverine World Wide by 1.1% in the fourth quarter. BlackRock Inc. now owns 12,032,149 shares of the textile maker’s stock valued at $383,584,000 after purchasing an additional 128,266 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Wolverine World Wide by 9.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,190,651 shares of the textile maker’s stock valued at $101,718,000 after purchasing an additional 287,093 shares during the last quarter. State Street Corp grew its position in shares of Wolverine World Wide by 2.9% in the second quarter. State Street Corp now owns 2,382,061 shares of the textile maker’s stock valued at $66,719,000 after purchasing an additional 67,591 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Wolverine World Wide by 7.8% in the third quarter. Macquarie Group Ltd. now owns 1,817,903 shares of the textile maker’s stock valued at $52,447,000 after purchasing an additional 131,157 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Wolverine World Wide by 12.8% in the third quarter. JPMorgan Chase & Co. now owns 1,686,193 shares of the textile maker’s stock valued at $48,799,000 after purchasing an additional 191,771 shares during the last quarter. Institutional investors own 93.12% of the company’s stock.

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About Wolverine World Wide

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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