In a report issued on September 1, Lucas Pipes from B.Riley FBR maintained a Buy rating on Wolverine World Wide (WWW). The company’s shares closed last Friday at $25.72.
According to TipRanks.com, Pipes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -13.0% and a 35.4% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.
Wolverine World Wide has an analyst consensus of Strong Buy, with a price target consensus of $28.20.
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Based on Wolverine World Wide’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $439 million and net profit of $13 million. In comparison, last year the company earned revenue of $569 million and had a net profit of $40.2 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WWW in relation to earlier this year. Earlier this month, William K. Gerber, a Director at WWW sold 5,386 shares for a total of $134,273.
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Wolverine World Wide, Inc. engages in the design, manufacture and sale of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell footwear and apparel, Cat footwear, Wolverine footwear and apparel, Chaco footwear, Hush Puppies footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and Hytest safety footwear. The Wolverine Boston Group consists of Sperry footwear and apparel, Saucony footwear and apparel, Keds footwear and apparel, and the Kids footwear business, which includes the Stride Rite licensed business, as well as kids’ footwear offerings from Saucony, Sperry, Keds, Merrell, Hush Puppies and Cat. The company was founded by G. A. Krause in 1883 and is headquartered in Rockford, MI.
