Stifel Nicolaus Upgrades Wolverine World Wide (NYSE:WWW) to Buy

Wolverine World Wide (NYSE:WWW - Get Free Report) was upgraded by Stifel Nicolaus from a "hold" rating to a "buy" rating in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a $29.00 price target on the textile maker's stock, up from their previous price target of $21.00. Stifel Nicolaus' price objective would indicate a potential upside of 19.54% from the stock's current price.

A number of other research firms also recently weighed in on WWW. BNP Paribas raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Thursday, October 3rd. Argus upgraded Wolverine World Wide to a "hold" rating in a report on Friday, August 16th. Piper Sandler reiterated an "overweight" rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.38.

Wolverine World Wide Stock Up 6.8 %

NYSE:WWW traded up $1.54 during trading hours on Wednesday, reaching $24.26. 2,456,502 shares of the stock were exchanged, compared to its average volume of 1,110,736. The stock has a market cap of $1.94 billion, a PE ratio of -27.29 and a beta of 1.89. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $24.64. The firm has a 50 day moving average of $19.40 and a 200 day moving average of $15.73. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Insider Buying and Selling at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. This represents a 35.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the transaction, the insider now directly owns 20,238 shares in the company, valued at approximately $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,920 shares of company stock worth $866,240 over the last 90 days. Company insiders own 2.28% of the company's stock.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Wolverine World Wide during the third quarter worth about $35,000. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide during the 2nd quarter worth $68,000. Cedar Mountain Advisors LLC acquired a new position in Wolverine World Wide in the 3rd quarter valued at $70,000. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker's stock worth $78,000 after purchasing an additional 616 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Wolverine World Wide in the third quarter worth $113,000. Institutional investors and hedge funds 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.