Wolverine World Wide Inc. [NYSE: WWW] slipped around -6.18 points on Wednesday, while shares priced at $11.87 at the close of the session, down -34.24%. The company report on November 9, 2022 that Wolverine Worldwide Reports Third Quarter Results Highlighted by Merrell’s Strong Performance.
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Delivers continued strong revenue growth in international markets.
Wolverine World Wide, Inc. (NYSE: WWW) today reported financial results for the third quarter ended October 1, 2022.
Wolverine World Wide Inc. stock is now -58.80% down from its year-to-date (YTD) trading value. WWW Stock saw the intraday high of $15.43 and lowest of $11.50 per share. The company’s 52-week high price is 38.05, which means current price is +3.22% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 633.52K shares, WWW reached a trading volume of 3617384 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wolverine World Wide Inc. [WWW]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WWW shares is $24.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WWW stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Argus have made an estimate for Wolverine World Wide Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on July 26, 2022, representing the official price target for Wolverine World Wide Inc. stock. Previously, the target price had yet another drop from $26 to $23, while Stifel kept a Hold rating on WWW stock.
The Average True Range (ATR) for Wolverine World Wide Inc. is set at 1.15, with the Price to Sales ratio for WWW stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 1.92.
How has WWW stock performed recently?
Wolverine World Wide Inc. [WWW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.35. With this latest performance, WWW shares dropped by -22.87% in over the last four-week period, additionally sinking by -30.42% over the last 6 months – not to mention a drop of -68.34% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WWW stock in for the last two-week period is set at 25.81, with the RSI for the last a single of trading hit 20.34, and the three-weeks RSI is set at 29.53 for Wolverine World Wide Inc. [WWW]. The present Moving Average for the last 50 days of trading for this stock 17.27, while it was recorded at 16.44 for the last single week of trading, and 20.89 for the last 200 days.
Wolverine World Wide Inc. [WWW]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Wolverine World Wide Inc. [WWW] shares currently have an operating margin of +6.76 and a Gross Margin at +40.54. Wolverine World Wide Inc.’s Net Margin is presently recorded at +2.80.
Return on Equity for this stock inclined to 11.34, with Return on Assets sitting at 2.86.
Wolverine World Wide Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.20.
Earnings analysis for Wolverine World Wide Inc. [WWW]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WWW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wolverine World Wide Inc. go to 5.00%.
Insider trade positions for Wolverine World Wide Inc. [WWW]
There are presently around $936 million, in the hands of institutional investors. The top three institutional holders of WWW stocks are: BLACKROCK INC. with ownership of 12,358,321, which is approximately -1.528% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,222,692 shares of the stock with an approximate value of $109.47 million in WWW stocks shares; and EARNEST PARTNERS LLC, currently with $81.96 million in WWW stock with ownership of nearly 20.847% of the company’s market capitalization.
Positions in Wolverine World Wide Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 82 institutional holders increased their position in Wolverine World Wide Inc. [NYSE:WWW] by around 7,240,086 shares. Additionally, 122 investors decreased positions by around 5,334,418 shares, while 39 investors held positions by with 66,266,999 shares. The mentioned changes placed institutional holdings at 78,841,503 shares, according to the latest SEC report filing. WWW stock had 23 new institutional investments in for a total of 1,241,753 shares, while 28 institutional investors sold positions of 1,078,493 shares during the same period.