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 reissued by equities research analysts at Telsey Advisory Group in a report released on Thursday, Benzinga reports. They presently have a $15.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price target would suggest a potential downside of 2.34% from the company’s current price.

Several other research firms also recently commented on WWW. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Finally, BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Wolverine World Wide Stock Performance

WWW stock opened at $15.36 on Thursday. 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 firm’s 50 day moving average price is $15.53 and its 200-day moving average price is $13.77. Wolverine World Wide has a one year low of $7.53 and a one year high of $18.51.

Wolverine World Wide (NYSE:WWW) last posted its 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. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was down 27.8% on a year-over-year basis. As a group, equities research analysts forecast that Wolverine World Wide will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares in the company, valued at approximately $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Wolverine World Wide

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew 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 last quarter. Louisiana State Employees Retirement System grew its position in shares of Wolverine World Wide by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after purchasing an additional 800 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Wolverine World Wide by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Wolverine World Wide by 9.3% in the second quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.