Wolverine World Wide (NYSE:WWW) Upgraded at BNP Paribas

Wolverine World Wide (NYSE:WWW) was upgraded by investment analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a report released on Thursday, Marketbeat reports. The firm currently has a $22.00 price objective on the textile maker’s stock. BNP Paribas’ price objective would indicate a potential upside of 28.21% from the company’s previous close.

A number of other brokerages have also recently commented on WWW. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Telsey Advisory Group restated a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Wolverine World Wide Stock Up 1.1 %

Shares of NYSE WWW opened at $17.16 on Thursday. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $17.57. The firm’s 50-day moving average is $14.20 and its 200-day moving average is $12.85. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $1.37 billion, a PE ratio of -18.45 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. Equities analysts expect that Wolverine World Wide will post 0.85 EPS for the current year.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wolverine World Wide

Several institutional investors have recently bought and sold shares of WWW. GAMMA Investing LLC raised its holdings in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide in the 2nd quarter valued at $68,000. Central Pacific Bank Trust Division bought a new stake in Wolverine World Wide during the 1st quarter worth about $81,000. Natixis acquired a new position in shares of Wolverine World Wide during the 1st quarter worth about $112,000. Finally, EntryPoint Capital LLC bought a new position in shares of Wolverine World Wide in the 1st quarter valued at about $141,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.