Telsey Advisory Group Reaffirms “Market Perform” Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reaffirmed by research analysts at Telsey Advisory Group in a report issued on Friday,Benzinga reports. They currently have a $18.00 target price on the textile maker’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 0.25% from the company’s previous close.

Several other equities analysts have also recently commented on WWW. Robert W. Baird reduced their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. UBS Group cut their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Piper Sandler lowered shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Wednesday, January 7th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.38.

Wolverine World Wide Stock Down 3.0%

WWW stock opened at $17.96 on Friday. The stock has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $22.35. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The firm has a market capitalization of $1.47 billion, a PE ratio of 17.27 and a beta of 1.91. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of Wolverine World Wide by 16,025.0% in the 3rd quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after purchasing an additional 1,282 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Wolverine World Wide by 191.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock valued at $29,000 after buying an additional 1,053 shares in the last quarter. Hara Capital LLC bought a new stake in Wolverine World Wide in the 2nd quarter worth approximately $30,000. Canada Pension Plan Investment Board purchased a new stake in Wolverine World Wide in the second quarter worth approximately $34,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in Wolverine World Wide by 1,605.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock worth $73,000 after buying an additional 2,505 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.