Wolverine World Wide (NYSE:WWW) Raised to “Buy” at Wall Street Zen

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

Other research analysts also recently issued research reports about the company. Robert W. Baird cut their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. KeyCorp dropped their price objective on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Piper Sandler lowered Wolverine World Wide from an “overweight” rating to a “neutral” rating and cut their target price for the company from $22.00 to $16.00 in a research note on Wednesday, January 7th. Zacks Research lowered Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.38.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $17.62 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 16.94 and a beta of 1.91. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $18.22 and a 200 day moving average price of $22.48.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WWW. Oxbow Capital Management HK Ltd acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth about $54,431,000. Hennessy Advisors Inc. bought a new stake in Wolverine World Wide during the third quarter worth about $36,556,000. Callodine Capital Management LP boosted its position in Wolverine World Wide by 41.0% during the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after purchasing an additional 1,250,515 shares during the last quarter. Alua Capital Management LP acquired a new position in Wolverine World Wide during the third quarter valued at approximately $33,231,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Wolverine World Wide in the fourth quarter valued at approximately $21,687,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.