Wolverine World Wide (NYSE:WWW) Earns “Market Perform” Rating from 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 research report issued on Friday,Benzinga reports. They currently have a $18.00 price objective on the textile maker’s stock. Telsey Advisory Group’s target price suggests a potential downside of 0.82% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Wall Street Zen raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Robert W. Baird dropped their price objective on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Argus reaffirmed a “hold” rating on shares of Wolverine World Wide in a research report on Friday, January 23rd. Piper Sandler downgraded shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $16.00 in a research report on Wednesday, January 7th. Finally, KeyCorp dropped their price target on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.38.

Wolverine World Wide Stock Performance

Shares of WWW opened at $18.15 on Friday. The company’s 50 day moving average price is $18.23 and its 200 day moving average price is $22.31. Wolverine World Wide has a 52 week low of $9.58 and a 52 week high of $32.80. The company has a market capitalization of $1.49 billion, a PE ratio of 17.45 and a beta of 1.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of WWW. VARCOV Co. bought a new stake in shares of Wolverine World Wide in the 4th quarter worth approximately $227,000. Millennium Management LLC raised its stake in shares of Wolverine World Wide by 1,740.2% in the fourth quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker’s stock valued at $21,855,000 after purchasing an additional 1,138,691 shares in the last quarter. Evolve Private Wealth LLC bought a new position in Wolverine World Wide in the fourth quarter worth $701,000. Engineers Gate Manager LP boosted its stake in Wolverine World Wide by 118.8% during the fourth quarter. Engineers Gate Manager LP now owns 133,768 shares of the textile maker’s stock worth $2,428,000 after buying an additional 72,642 shares in the last quarter. Finally, Aristotle Capital Boston LLC boosted its stake in Wolverine World Wide by 32.3% during the fourth quarter. Aristotle Capital Boston LLC now owns 702,079 shares of the textile maker’s stock worth $12,743,000 after buying an additional 171,509 shares in the last quarter. Institutional investors and hedge funds 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.