Wolverine World Wide (NYSE:WWW) Stock Rating Upgraded by Argus

Wolverine World Wide (NYSE:WWW) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Finviz reports. The firm presently has a $20.00 price objective on the textile maker’s stock. Argus’ target price would suggest a potential upside of 21.73% from the company’s previous close.

A number of other equities analysts also recently commented on WWW. Piper Sandler reduced 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. Stifel Nicolaus reduced their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Finally, StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Wolverine World Wide Stock Performance

NYSE WWW opened at $16.43 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $13.21 and its 200-day simple moving average is $18.15. The company has a market cap of $1.33 billion, a PE ratio of 29.87 and a beta of 1.62. Wolverine World Wide has a 1-year low of $9.58 and a 1-year high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $412.30 million during the quarter, compared to analysts’ expectations of $395.94 million. During the same period in the prior year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in Wolverine World Wide during the fourth quarter worth $64,943,000. Callodine Capital Management LP grew its position in Wolverine World Wide by 60.2% in the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock valued at $42,385,000 after acquiring an additional 1,145,455 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after purchasing an additional 998,916 shares during the period. Capital Research Global Investors acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth about $13,943,000. Finally, WCM Investment Management LLC purchased a new position in shares of Wolverine World Wide in the first quarter valued at approximately $7,164,000. Hedge funds and other institutional investors 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.