Wolverine World Wide, Inc. (NYSE:WWW) Given Consensus Recommendation of “Hold” by Analysts

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.1111.

A number of brokerages have recently commented on WWW. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Exane BNP Paribas lowered Wolverine World Wide from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $19.00 in a research note on Thursday, January 22nd. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research report on Friday, January 2nd. Piper Sandler cut Wolverine World Wide from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $16.00 in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th.

Wolverine World Wide Trading Up 3.1%

Shares of WWW stock opened at $18.14 on Thursday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 17.44 and a beta of 1.91. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $32.80. The firm’s fifty day simple moving average is $18.06 and its 200 day simple moving average is $22.71. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, sell-side analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Insider Activity

In other Wolverine World Wide news, Director Demonty Price acquired 25,000 shares of Wolverine World Wide stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $15.77 per share, with a total value of $394,250.00. Following the acquisition, the director owned 75,000 shares of the company’s stock, valued at approximately $1,182,750. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Boyle bought 6,250 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $15.77 per share, for a total transaction of $98,562.50. Following the completion of the transaction, the director owned 6,250 shares in the company, valued at $98,562.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of WWW. SRS Investment Management LLC acquired a new position in Wolverine World Wide during the second quarter worth $3,754,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Wolverine World Wide during the 3rd quarter worth about $4,143,000. Federated Hermes Inc. lifted its holdings in Wolverine World Wide by 23.6% during the 2nd quarter. Federated Hermes Inc. now owns 942,642 shares of the textile maker’s stock valued at $17,043,000 after purchasing an additional 180,184 shares during the last quarter. WCM Investment Management LLC boosted its position in Wolverine World Wide by 78.2% in the third quarter. WCM Investment Management LLC now owns 1,008,395 shares of the textile maker’s stock valued at $27,499,000 after buying an additional 442,649 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Wolverine World Wide during the third quarter worth approximately $1,533,000. Institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.