Wolverine World Wide, Inc. (NYSE:WWW) Downgraded to “Hold” at ValuEngine

Wolverine World Wide, Inc. (NYSE:WWW) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, August 1st.

WWW has been the topic of several other research reports. Wedbush lifted their price target on shares of Wolverine World Wide from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, May 11th. Zacks Investment Research downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. BidaskClub downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Telsey Advisory Group boosted their target price on shares of Wolverine World Wide from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, May 11th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $24.00 price objective on shares of Wolverine World Wide in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.71.

Shares of Wolverine World Wide (NYSE WWW) opened at 26.64 on Tuesday. The firm’s 50 day moving average is $27.41 and its 200 day moving average is $25.43. The company has a market cap of $2.56 billion, a PE ratio of 31.30 and a beta of 0.94. Wolverine World Wide has a 12 month low of $20.58 and a 12 month high of $28.64.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The business had revenue of $598.80 million for the quarter, compared to the consensus estimate of $573.78 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that Wolverine World Wide will post $1.60 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. raised its position in shares of Wolverine World Wide by 14.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 13,988 shares of the textile maker’s stock worth $349,000 after buying an additional 1,722 shares during the last quarter. First Trust Advisors LP raised its position in shares of Wolverine World Wide by 83.5% in the first quarter. First Trust Advisors LP now owns 86,292 shares of the textile maker’s stock worth $2,155,000 after buying an additional 39,274 shares during the last quarter. Chicago Equity Partners LLC raised its position in shares of Wolverine World Wide by 4.5% in the first quarter. Chicago Equity Partners LLC now owns 99,925 shares of the textile maker’s stock worth $2,495,000 after buying an additional 4,265 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Wolverine World Wide by 4.3% in the first quarter. Great West Life Assurance Co. Can now owns 136,208 shares of the textile maker’s stock worth $3,400,000 after buying an additional 5,671 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Wolverine World Wide during the first quarter worth $198,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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