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

Wolverine World Wide (NYSE:WWW - Get Free Report) had its price objective dropped by stock analysts at Piper Sandler from $27.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the textile maker's stock. Piper Sandler's price target would indicate a potential upside of 70.62% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. UBS Group lowered their target price on Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus reduced their price target on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Robert W. Baird reduced their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. Four 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 company presently has an average rating of "Moderate Buy" and an average target price of $20.25.

Wolverine World Wide Trading Down 1.9 %

NYSE WWW traded down $0.20 on Friday, hitting $10.55. 417,205 shares of the company were exchanged, compared to its average volume of 1,287,643. Wolverine World Wide has a twelve month low of $9.15 and a twelve month high of $24.64. The company's 50 day moving average price is $14.41 and its 200-day moving average price is $18.62. The firm has a market capitalization of $854.92 million, a P/E ratio of 19.18 and a beta of 1.74. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Wolverine World Wide by 2.2% during the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock worth $261,217,000 after purchasing an additional 249,456 shares in the last quarter. Earnest Partners LLC boosted its stake in Wolverine World Wide by 0.4% during the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker's stock worth $116,082,000 after buying an additional 19,295 shares in the last quarter. State Street Corp increased its holdings in Wolverine World Wide by 0.5% in the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker's stock valued at $53,405,000 after buying an additional 16,228 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Wolverine World Wide in the 4th quarter valued at $64,943,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Wolverine World Wide by 70.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock valued at $53,854,000 after buying an additional 998,916 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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.