6. Wolverine World Wide (WWW) is a designer, manufacturer and marketer of a range of casual shoes, performance outdoor footwear and apparel, industrial work shoes, boots and apparel, and uniform shoes and boots. Broadly, its footwear products are organized under four operating units: the Outdoor Group, the Wolverine Footwear Group, the Heritage Brands Group and The Hush Puppies Company.
Of the 13 analysts covering the stock, 38% recommend buying and the rest suggest a hold. There are no sell ratings on the stock. The stock's average 12-month price target is $43.63, which is 26% higher than the current price, as per a Bloomberg consensus.
The company recorded revenue of $361.6 million for the third quarter of 2011, an increase of 12.9% from the year-ago quarter, driven by significant growth from Outdoor Group, Lifestyle Group and Consumer Direct Businesses. Outdoor Group recorded revenue growth of 19.9%. Gross margin expanded 44 basis points, while operating margin grew 60 basis points. Net earnings increased to $40.4 million from $34.1 million in the third quarter of 2010. Diluted earnings per share rose 17.1% to 82 cents.The company recently launched a concept shoe store, extending its involvement in the downtown area of West Michigan and providing high-profile boost to the downtown retail scene. The store may also carry some limited-run shoes and apparel. The company has raised its full-year revenue to a range of $1.4 to $1.43 billion, or a growth of 12.1% to 14.5% from the previous year. Meanwhile, diluted earnings per share are seen in the range of $2.46 to $2.52, rising 13.4% to 16.1% from the prior year's adjusted earnings per share.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV