Wolverine World Wide’s (WWW) “Market Perform” Rating Reiterated at Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a report released on Thursday, Benzinga reports. They presently have a $15.00 price target on the textile maker’s stock. Telsey Advisory Group’s target price would suggest a potential downside of 18.21% from the company’s previous close.

Several other research analysts have also recently weighed in on WWW. Robert W. Baird lifted their price target on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Thursday, October 3rd. Finally, KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Trading Up 14.3 %

Shares of NYSE:WWW opened at $18.34 on Thursday. Wolverine World Wide has a 52-week low of $7.58 and a 52-week high of $18.51. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -16.57 and a beta of 1.78. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The business has a 50-day moving average price of $15.65 and a 200-day moving average price of $13.93.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. Wolverine World Wide’s quarterly revenue was down 27.8% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Equities analysts predict that Wolverine World Wide will post 0.85 EPS for the current year.

Insider Buying and Selling at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Wolverine World Wide in the third quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide during the second quarter worth $68,000. Cedar Mountain Advisors LLC acquired a new position in Wolverine World Wide during the third quarter worth $70,000. GAMMA Investing LLC boosted its stake in Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after buying an additional 616 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide during the first quarter worth $81,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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.