Wolverine World Wide (NYSE:WWW) Earns Hold Rating from Argus

Wolverine World Wide (NYSE:WWW)‘s stock had its “hold” rating reissued by equities research analysts at Argus in a note issued to investors on Friday,Benzinga reports.

A number of other research firms have also recently issued reports on WWW. BNP Paribas Exane set a $19.00 price target on Wolverine World Wide in a report on Thursday. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price objective (down from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Piper Sandler downgraded shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $16.00 in a report on Wednesday, January 7th. Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Stifel Nicolaus set a $25.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.11.

Wolverine World Wide Stock Performance

WWW opened at $19.29 on Friday. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $32.80. The company has a market capitalization of $1.58 billion, a PE ratio of 18.55 and a beta of 1.92. The business has a fifty day simple moving average of $17.66 and a 200 day simple moving average of $22.81. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Research analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Insider Transactions at Wolverine World Wide

In other news, Director Jack Boyle purchased 6,250 shares of the stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.77 per share, with a total value of $98,562.50. Following the acquisition, the director directly owned 6,250 shares of the company’s stock, valued at $98,562.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas T. Long acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director owned 78,268 shares of the company’s stock, valued at $1,242,895.84. The trade was a 2.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 33,250 shares of company stock worth $524,573 in the last ninety days. 2.28% of the stock is owned by company insiders.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hara Capital LLC purchased a new stake in shares of Wolverine World Wide in the second quarter worth about $30,000. Canada Pension Plan Investment Board bought a new stake in Wolverine World Wide in the second quarter worth $34,000. Covestor Ltd raised its stake in Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 1,282 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Wolverine World Wide by 1,605.8% during the third quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Wolverine World Wide in the 2nd quarter worth about $85,000. 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.