Wolverine World Wide (NYSE:WWW) Receives “Market Perform” Rating from Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the textile maker’s stock. Telsey Advisory Group’s target price indicates a potential downside of 4.58% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Thursday, August 8th. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Wolverine World Wide Trading Up 0.1 %

WWW opened at $15.72 on Thursday. Wolverine World Wide has a 1-year low of $7.52 and a 1-year high of $18.51. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The company has a market cap of $1.26 billion, a P/E ratio of -14.54 and a beta of 1.77. The company has a fifty day moving average price of $15.43 and a two-hundred day moving average price of $13.72.

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

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE raised its position in shares of Wolverine World Wide by 487.8% in the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after purchasing an additional 30,519 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of Wolverine World Wide in the third quarter valued at approximately $70,000. CWM LLC raised its position in shares of Wolverine World Wide by 237.0% in the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after purchasing an additional 6,219 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Wolverine World Wide in the third quarter valued at approximately $35,000. Finally, GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.