Wolverine World Wide (NYSE:WWW) Receives Market Perform Rating from Telsey Advisory Group

Wolverine World Wide (NYSE:WWW)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a report released on Friday,Benzinga reports. They currently have a $18.00 price target on the textile maker’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 0.25% from the company’s previous close.

Several other equities research analysts have also commented on the stock. UBS Group decreased their price objective on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research report on Thursday, November 6th. Zacks Research lowered Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Robert W. Baird cut their price objective on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.38.

Wolverine World Wide Stock Down 3.0%

Shares of NYSE:WWW opened at $17.96 on Friday. The business’s 50 day moving average is $18.23 and its 200 day moving average is $22.35. Wolverine World Wide has a 12-month low of $9.58 and a 12-month high of $32.80. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 17.27 and a beta of 1.91. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its stake in shares of Wolverine World Wide by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock worth $29,000 after purchasing an additional 1,053 shares in the last quarter. Hara Capital LLC bought a new position in Wolverine World Wide in the 2nd quarter worth approximately $30,000. Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide in the 2nd quarter valued at approximately $34,000. Covestor Ltd grew its stake in Wolverine World Wide by 16,025.0% in the 3rd quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after buying an additional 1,282 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Wolverine World Wide by 2,134.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,883 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 2,754 shares during the period. 90.25% of the stock is currently owned by institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.