Wolverine World Wide (NYSE:WWW) Upgraded by StockNews.com to “Buy” Rating

Wolverine World Wide (NYSE:WWW) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on WWW. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

NYSE WWW opened at $22.88 on Wednesday. The company’s 50 day moving average is $22.81 and its 200-day moving average is $17.67. Wolverine World Wide has a 12-month low of $8.05 and a 12-month high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The firm has a market cap of $1.83 billion, a P/E ratio of -25.70 and a beta of 1.88.

Insiders Place Their Bets

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the transaction, the insider now owns 20,238 shares of the company’s stock, valued at $446,652.66. The trade was a 54.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Isabel Soriano sold 7,687 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the transaction, the insider now directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,901 shares of company stock valued at $916,266 in the last quarter. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the business. Sheets Smith Wealth Management bought a new stake in shares of Wolverine World Wide in the 4th quarter worth approximately $273,000. Range Financial Group LLC bought a new stake in shares of Wolverine World Wide in the 4th quarter worth approximately $1,072,000. GAMMA Investing LLC lifted its holdings in shares of Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after acquiring an additional 563 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $113,000. 90.25% of the stock is currently owned by institutional investors.

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.