Baird R W Upgrades Wolverine World Wide (NYSE:WWW) to Strong-Buy

Wolverine World Wide (NYSE:WWW - Get Free Report) was upgraded by analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on WWW. Telsey Advisory Group reissued a "market perform" rating and set a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Robert W. Baird raised Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $15.00 price objective on the stock in a research report on Monday, April 21st. Piper Sandler dropped their price objective on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. UBS Group dropped their price objective on Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, StockNews.com downgraded Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.88.

Wolverine World Wide Trading Down 1.2 %

WWW stock traded down $0.15 during midday trading on Monday, reaching $12.73. The company's stock had a trading volume of 1,160,973 shares, compared to its average volume of 1,313,969. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a fifty day simple moving average of $13.18 and a two-hundred day simple moving average of $18.32. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $24.64. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 23.15 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The business's revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after acquiring an additional 998,916 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Wolverine World Wide by 5.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock worth $37,091,000 after acquiring an additional 86,475 shares in the last quarter. Savant Capital LLC acquired a new stake in Wolverine World Wide in the fourth quarter worth about $205,000. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter worth about $64,943,000. Finally, Amundi raised its stake in shares of Wolverine World Wide by 161.5% in the fourth quarter. Amundi now owns 47,074 shares of the textile maker's stock worth $1,067,000 after purchasing an additional 29,072 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

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.