Telsey Advisory Group Reaffirms Market Perform Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research note issued to 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 2.34% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Thursday, October 3rd. Finally, 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 research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Wolverine World Wide Trading Down 0.2 %

WWW stock opened at $15.36 on Thursday. The firm’s 50-day moving average price is $15.53 and its two-hundred day moving average price is $13.77. Wolverine World Wide has a 12-month low of $7.53 and a 12-month high of $18.51. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. Wolverine World Wide’s quarterly revenue was down 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, analysts expect 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 shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in WWW. US Bancorp DE increased its stake in Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after acquiring an additional 30,519 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in Wolverine World Wide during the third quarter worth approximately $70,000. CWM LLC increased its stake in Wolverine World Wide by 237.0% during the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock worth $154,000 after acquiring an additional 6,219 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Wolverine World Wide during the third quarter worth approximately $35,000. Finally, GAMMA Investing LLC increased 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 acquiring an additional 616 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

About Wolverine World Wide

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.