Telsey Advisory Maintains a Hold Rating on Wolverine World Wide (WWW)

In a report released yesterday, Telsey Advisory Group from Telsey Advisory maintained a Hold rating on Wolverine World Wide (WWW), with a price target of $45.00. The company’s shares closed last Thursday at $43.30, close to its 52-week high of $44.68.

Currently, the analyst consensus on Wolverine World Wide is a Moderate Buy with an average price target of $43.71, implying a -1.3% downside from current levels. In a report issued on May 3, UBS also maintained a Hold rating on the stock with a $46.00 price target.

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The company has a one-year high of $44.68 and a one-year low of $15.56. Currently, Wolverine World Wide has an average volume of 459.6K.

Based on the recent corporate insider activity of 70 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. Most recently, in March 2021, Gina Boswell, a Director at WWW sold 35,526 shares for a total of $1,430,987.

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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.

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