Argus Reiterates “Hold” Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide (NYSE:WWW)‘s stock had its “hold” rating reiterated by stock analysts at Argus in a research note issued on Friday,Benzinga reports.

Several other equities research analysts have also recently issued reports on WWW. Robert W. Baird lowered their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. BNP Paribas Exane set a $19.00 price target on Wolverine World Wide in a report on Thursday. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price objective (down from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Finally, UBS Group dropped their price target on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.11.

Wolverine World Wide Trading Up 0.8%

WWW stock opened at $19.29 on Friday. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.55 and a beta of 1.92. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $17.66 and its two-hundred day simple moving average is $22.81.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $470.30 million during the quarter, compared to analysts’ expectations of $461.46 million. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.Wolverine World Wide’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Demonty Price acquired 25,000 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $15.77 per share, with a total value of $394,250.00. Following the transaction, the director directly owned 75,000 shares of the company’s stock, valued at $1,182,750. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Boyle bought 6,250 shares of Wolverine World Wide stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $15.77 per share, for a total transaction of $98,562.50. Following the completion of the transaction, the director directly owned 6,250 shares in the company, valued at $98,562.50. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Wolverine World Wide

Institutional investors have recently bought and sold shares of the stock. Hara Capital LLC purchased a new stake in Wolverine World Wide during the 2nd quarter worth approximately $30,000. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide during the second quarter worth $34,000. Covestor Ltd grew its holdings in shares of Wolverine World Wide by 16,025.0% during the third 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 during the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Wolverine World Wide by 1,605.8% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 2,505 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $85,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.