Needham & Company LLC Begins Coverage on Wolverine World Wide (NYSE:WWW)

Investment analysts at Needham & Company LLC initiated coverage on shares of Wolverine World Wide (NYSE:WWW) in a research note issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $21.00 price target on the textile maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 24.73% from the company’s previous close.

Several other equities analysts have also commented on the company. Robert W. Baird upped their target price on Wolverine World Wide from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Zacks Research raised Wolverine World Wide from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. KeyCorp upped their price objective on Wolverine World Wide from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Finally, BNP Paribas Exane cut Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their target price for the company from $38.00 to $19.00 in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.33.

Wolverine World Wide Price Performance

WWW opened at $16.84 on Thursday. The company has a 50-day moving average of $17.62 and a 200-day moving average of $20.26. The company has a market capitalization of $1.37 billion, a P/E ratio of 14.90 and a beta of 1.88. Wolverine World Wide has a 1-year low of $9.58 and a 1-year high of $32.80. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.87 and a current ratio of 1.40.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, February 26th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Wolverine World Wide had a return on equity of 29.84% and a net margin of 5.06%.The business had revenue of $517.50 million for the quarter, compared to analyst estimates of $510.49 million. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Wolverine World Wide has set its FY 2026 guidance at 1.350-1.500 EPS. Equities analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Institutional Trading of Wolverine World Wide

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Wolverine World Wide by 295.7% during the first quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock valued at $460,000 after buying an additional 24,701 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Wolverine World Wide by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,480 shares of the textile maker’s stock worth $660,000 after acquiring an additional 2,321 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after acquiring an additional 537,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Wolverine World Wide by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,688 shares of the textile maker’s stock valued at $3,167,000 after purchasing an additional 26,870 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Wolverine World Wide by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock valued at $33,802,000 after purchasing an additional 32,493 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.