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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

8 Footwear Stocks With Upside

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.

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