Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at Wall Street Zen

Wolverine World Wide (NYSE:WWW) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on the company. Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $16.00 in a research report on Wednesday, January 7th. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Argus reissued a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.38.

Wolverine World Wide Stock Performance

Shares of WWW opened at $17.62 on Friday. The firm has a 50-day moving average of $18.22 and a 200-day moving average of $22.48. Wolverine World Wide has a one year low of $9.58 and a one year high of $32.80. The company has a market cap of $1.44 billion, a PE ratio of 16.94 and a beta of 1.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79.

Institutional Trading of Wolverine World Wide

A number of institutional investors and hedge funds have recently made changes to their positions in WWW. Royal Bank of Canada increased its stake in Wolverine World Wide by 295.7% in the first quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock valued at $460,000 after acquiring an additional 24,701 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Wolverine World Wide by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,480 shares of the textile maker’s stock valued at $660,000 after purchasing an additional 2,321 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after purchasing an additional 537,854 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Wolverine World Wide by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,688 shares of the textile maker’s stock valued at $3,167,000 after purchasing an additional 26,870 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock worth $1,059,000 after buying an additional 599 shares in the last quarter. 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.