In a report released today, Mitch Kummetz from Pivotal Research reiterated a Hold rating on Wolverine World Wide (WWW), with a price target of $37. The company’s shares closed yesterday at $38.58, close to its 52-week high of $39.77.
Kummetz noted:
“We believe results were positively impacted by a favorable weather backdrop, which helped drive solid full-price selling and net-reorders for the company’s Wolverine brands in particular. That said, we don’t think solid 4Q results are unexpected, as WWW’s shares are currently trading near their 52-week high. As such, with the likely good news already in the stock, we are reiterating our HOLD rating as this juncture.”
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 5.7% and a 62.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
Currently, the analyst consensus on Wolverine World Wide is a Strong Buy with an average price target of $41.67.
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The company has a one-year high of $39.77 and a one-year low of $27.93. Currently, Wolverine World Wide has an average volume of 661K.
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Wolverine World Wide, Inc. engages in the designing, manufacturing, licensing and marketing of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Outdoor & Lifestyle Group; Wolverine Boston Group; Wolverine Heritage Group; and Wolverine Multi-Brand Group. The Wolverine Outdoor & Lifestyle Group segment brands include Merrell, Cat, Hush Puppies, and Chaco. The Wolverine Boston Group segment brands include Sperry, Saucony, and Keds. The Wolverine Heritage Group segment brands include Wolverine, Bates, Harley-Davidson, and HyTest. The Wolverine Multi-Brand Group segment brands include Stride Rite and its multi-brand consumer-direct businesses. The company was founded by G. A. Krause in 1883 and is headquartered in Rockford, MI.
