What Happened?
Shares of footwear conglomerate Wolverine Worldwide (NYSE:WWW) fell 7.2% in the morning session after 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.
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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 biggest move we wrote about over the last year was 2 months ago when the stock dropped 28.1% on the news that the company reported third-quarter results and provided a full-year earnings forecast that fell short of what analysts had predicted.
While the footwear company's third-quarter revenue and non-GAAP profit per share were above Wall Street's consensus estimates, investors focused on the future outlook. For the full-year 2025, Wolverine's adjusted earnings per share guidance was between $1.29 and $1.34. The midpoint of this range came in slightly below what analysts had forecasted. This weaker-than-expected guidance for future profitability appeared to overshadow the positive quarterly results, leading to the sharp decline in the stock price.
Wolverine Worldwide is down 4.7% since the beginning of the year, and at $17.36 per share, it is trading 46.4% 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 $534.98.
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