Wolverine World Wide (NYSE:WWW) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Wolverine World Wide from “hold” to “strong buy.” Other analysts have also issued bullish ratings, giving the stock a consensus “moderate buy” rating and an average price target of $23.11.
• Wolverine World Wide shares opened at $19.27, up 1.7%, with a market capitalization of approximately $1.58 billion. The stock has traded between $13.47 and $27.73 over the past year.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.40 versus a $0.38 estimate and revenue of $506.4 million, up 6.8% year over year. Institutional investors own approximately 90.25% of the stock.

Wolverine World Wide (NYSE:WWW - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

WWW has been the subject of a number of other reports. Seaport Research Partners reissued a "buy" rating and set a $30.00 price objective on shares of Wolverine World Wide in a report on Friday, August 14th. UBS Group raised their target price on Wolverine World Wide from $29.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 14th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Sunday. Stifel Nicolaus increased their price target on Wolverine World Wide from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Needham & Company LLC raised their price objective on Wolverine World Wide from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.11.

Wolverine World Wide Stock Up 1.7%

Wolverine World Wide stock opened at $19.27 on Monday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.69. The firm's fifty day moving average price is $19.63 and its two-hundred day moving average price is $17.98. Wolverine World Wide has a 1-year low of $13.47 and a 1-year high of $27.73. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its earnings results on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The company had revenue of $506.40 million during the quarter, compared to the consensus estimate of $500.74 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. On average, equities research analysts predict that Wolverine World Wide will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in Wolverine World Wide by 1,959.4% during the second quarter. NewEdge Advisors LLC now owns 20,594 shares of the textile maker's stock valued at $340,000 after buying an additional 19,594 shares during the period. Corient Private Wealth LP raised its position in Wolverine World Wide by 333.9% in the second quarter. Corient Private Wealth LP now owns 47,399 shares of the textile maker's stock worth $784,000 after acquiring an additional 36,476 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wolverine World Wide in the second quarter valued at about $422,000. Wellington Management Group LLP boosted its stake in Wolverine World Wide by 3.4% in the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker's stock valued at $74,852,000 after acquiring an additional 146,791 shares during the last quarter. Finally, Caitlin John LLC bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at approximately $56,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc is a global footwear and apparel company headquartered in Rockford, Michigan. Founded in 1883, the company designs, manufactures, sources, markets and licenses footwear, clothing and accessories for consumers and workers around the world.

Its brand portfolio includes Merrell, known for outdoor and hiking footwear; Saucony, which focuses on running and athletic shoes; Wolverine, a work and lifestyle brand; Hush Puppies; Chaco; Bates; and other licensed or owned footwear brands.

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