Zacks Research Upgrades Wolverine World Wide (NYSE:WWW) to Strong-Buy

Wolverine World Wide (NYSE:WWW) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird cut their price target on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Weiss Ratings upgraded Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Telsey Advisory Group cut their target price on Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, May 15th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Needham & Company LLC began coverage on Wolverine World Wide in a research note on Thursday, March 26th. They issued a “buy” rating and a $21.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

Wolverine World Wide Trading Up 1.2%

Shares of NYSE WWW opened at $17.20 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.26. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 13.87 and a beta of 1.75. Wolverine World Wide has a 12-month low of $13.47 and a 12-month high of $32.80. The stock’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $17.31.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Thursday, May 14th. The textile maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The business had revenue of $457.60 million during the quarter, compared to analyst estimates of $448.44 million. Wolverine World Wide had a net margin of 5.41% and a return on equity of 29.37%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. Equities research analysts expect that Wolverine World Wide will post 1.56 EPS for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 5,500 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total transaction of $87,340.00. Following the completion of the transaction, the director directly owned 54,202 shares of the company’s stock, valued at approximately $860,727.76. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Trading of Wolverine World Wide

Several institutional investors have recently modified their holdings of the company. Oxbow Capital Management HK Ltd bought a new position in shares of Wolverine World Wide in the third quarter valued at $54,431,000. Alua Capital Management LP acquired a new position in shares of Wolverine World Wide in the 3rd quarter worth $33,231,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Wolverine World Wide in the 4th quarter worth $21,687,000. Millennium Management LLC raised its position in shares of Wolverine World Wide by 1,740.2% during the fourth quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker’s stock worth $21,855,000 after purchasing an additional 1,138,691 shares during the period. Finally, Callodine Capital Management LP raised its position in shares of Wolverine World Wide by 27.8% during the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after purchasing an additional 980,839 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.