Seaport Res Ptn Upgrades Wolverine World Wide (NYSE:WWW) to Buy

Wolverine World Wide (NYSE:WWW – Get Rating) was upgraded by Seaport Res Ptn from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, PriceTargets.com reports.

WWW has been the topic of several other research reports. StockNews.com lowered shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. UBS Group dropped their price objective on shares of Wolverine World Wide from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, November 14th. Stifel Nicolaus dropped their price objective on shares of Wolverine World Wide to $12.00 and set a “hold” rating on the stock in a research note on Thursday, December 8th. Telsey Advisory Group restated a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 22nd. Finally, Piper Sandler cut shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $13.00 in a research report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Wolverine World Wide has a consensus rating of “Hold” and an average target price of $17.14.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $16.79 on Monday. The firm has a market cap of $1.33 billion, a PE ratio of -6.83 and a beta of 1.65. The firm’s 50-day simple moving average is $15.00 and its 200-day simple moving average is $14.75. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.47 and a current ratio of 1.14. Wolverine World Wide has a 1 year low of $9.60 and a 1 year high of $24.95.

Wolverine World Wide (NYSE:WWW – Get Rating) last issued its earnings results on Wednesday, February 22nd. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $665.00 million during the quarter, compared to analyst estimates of $665.04 million. Wolverine World Wide had a negative net margin of 7.01% and a positive return on equity of 19.99%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Equities analysts forecast that Wolverine World Wide will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Nicholas T. Long acquired 10,000 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was acquired at an average cost of $16.13 per share, for a total transaction of $161,300.00. Following the completion of the acquisition, the director now directly owns 26,334 shares of the company’s stock, valued at approximately $424,767.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.40% of the company’s stock.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MQS Management LLC acquired a new stake in Wolverine World Wide during the third quarter valued at approximately $337,000. Bridge City Capital LLC lifted its position in shares of Wolverine World Wide by 3.5% in the 3rd quarter. Bridge City Capital LLC now owns 82,976 shares of the textile maker’s stock valued at $1,277,000 after acquiring an additional 2,833 shares in the last quarter. Aristotle Capital Boston LLC lifted its position in shares of Wolverine World Wide by 57.7% in the 2nd quarter. Aristotle Capital Boston LLC now owns 955,650 shares of the textile maker’s stock valued at $19,266,000 after acquiring an additional 349,609 shares in the last quarter. EMG Holdings L.P. lifted its position in shares of Wolverine World Wide by 69.8% in the 2nd quarter. EMG Holdings L.P. now owns 144,794 shares of the textile maker’s stock valued at $2,919,000 after acquiring an additional 59,500 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Wolverine World Wide by 139.4% in the 3rd quarter. Fifth Third Bancorp now owns 69,996 shares of the textile maker’s stock valued at $1,077,000 after acquiring an additional 40,761 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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Wolverine World Wide, Inc engages in the design, manufacture, and sale of branded casual, active lifestyle, work, outdoor sport, athletic, uniform, footwear, and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell, Cat, Chaco, Hush Puppies, Bates uniform, Harley-Davidson and Hytest safety footwear and apparel.