What Happened?
Shares of footwear conglomerate Wolverine Worldwide (NYSE:WWW) fell 7.3% in the afternoon session after Exane BNP Paribas analyst Laurent Vasilescu downgraded the stock and significantly cut the price target.
The analyst changed the rating on the footwear and apparel company from "Outperform" to "Neutral." Furthermore, the price target was substantially lowered by 50%, moving from $38.00 down to $19.00. This action signaled a less optimistic outlook for the company's stock performance, prompting a negative reaction from investors.
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What Is The Market Telling Us
Wolverine Worldwide’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 16 days ago when the stock dropped 7.2% on the news that Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target. The investment firm's analyst, Anna Andreeva, reduced the price target to $16.00 from $22.00, a significant cut of over 27%. The downgrade and the substantial price target reduction indicated a less positive view of the footwear company's prospects, prompting concern among investors.
Wolverine Worldwide is down 2% since the beginning of the year, and at $17.85 per share, it is trading 44.9% below its 52-week high of $32.40 from August 2025. Investors who bought $1,000 worth of Wolverine Worldwide’s shares 5 years ago would now be looking at an investment worth $573.79.
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