Wolverine World Wide (NYSE:WWW – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.
A number of other brokerages have also recently issued reports on WWW. Needham & Company LLC increased their price objective on shares of Wolverine World Wide from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Zacks Research lowered shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wolverine World Wide in a report on Tuesday, September 8th. Seaport Research Partners reiterated a “buy” rating and issued a $30.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 14th. Finally, Stifel Nicolaus upped their price objective on Wolverine World Wide from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.11.
Wolverine World Wide Trading Down 0.9%
Wolverine World Wide (NYSE:WWW – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $506.40 million during the quarter, compared to the consensus estimate of $500.74 million. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. As a group, research analysts predict that Wolverine World Wide will post 1.64 earnings per share for the current year.
Hedge Funds Weigh In On Wolverine World Wide
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Wolverine World Wide in the second quarter worth about $204,878,000. Callodine Capital Management LP lifted 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $13,557,000. Manning & Napier Advisors LLC bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $11,571,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Wolverine World Wide in the first quarter valued at approximately $7,275,000. 90.25% of the stock is owned by institutional investors.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a global footwear and apparel company headquartered in Rockford, Michigan. Founded in 1883, the company designs, manufactures, sources, markets and licenses footwear, clothing and accessories for consumers and workers around the world.
Its brand portfolio includes Merrell, known for outdoor and hiking footwear; Saucony, which focuses on running and athletic shoes; Wolverine, a work and lifestyle brand; Hush Puppies; Chaco; Bates; and other licensed or owned footwear brands.
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