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

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

Several other research firms also recently weighed in on WWW. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 23rd. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reiterated 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Stock Up 1.8 %

Wolverine World Wide stock opened at $22.45 on Wednesday. The firm has a 50 day moving average price of $20.25 and a 200-day moving average price of $16.17. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $24.64. The company has a market capitalization of $1.80 billion, a P/E ratio of -25.22 and a beta of 1.89.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the sale, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Amy M. Klimek sold 24,000 shares of the firm’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 approximately $446,652.66. The trade was a 54.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,920 shares of company stock worth $866,240. 2.28% of the stock is currently owned by insiders.

Institutional Trading of Wolverine World Wide

Several institutional investors have recently bought and sold shares of the company. Earnest Partners LLC lifted its stake in Wolverine World Wide by 1.7% during the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after acquiring an additional 90,407 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide during the second quarter valued at approximately $64,295,000. State Street Corp lifted its position in Wolverine World Wide by 0.5% during the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after purchasing an additional 16,228 shares during the period. Geode Capital Management LLC lifted its position in Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after purchasing an additional 335,669 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

About Wolverine World Wide

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.