ValuEngine Downgrades Wolverine World Wide, Inc. (NYSE:WWW) to Hold

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

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Wolverine World Wide from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, April 26th. BidaskClub raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wedbush increased their price target on shares of Wolverine World Wide from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. Finally, Robert W. Baird raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and increased their price target for the company from $29.00 to $30.00 in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.86.

Shares of Wolverine World Wide (NYSE WWW) traded down 1.34% on Tuesday, hitting $25.81. 774,830 shares of the stock traded hands. The stock has a 50 day moving average price of $27.35 and a 200-day moving average price of $25.53. Wolverine World Wide has a 52 week low of $20.58 and a 52 week high of $28.64. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 30.33 and a beta of 0.94.

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

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A number of hedge funds have recently added to or reduced their stakes in the stock. Ronna Sue Cohen raised its stake in Wolverine World Wide by 0.3% in the second quarter. Ronna Sue Cohen now owns 8,362 shares of the textile maker’s stock worth $234,000 after buying an additional 21 shares in the last quarter. Bank of Montreal Can raised its stake in Wolverine World Wide by 1.3% in the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after buying an additional 64 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Wolverine World Wide by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 39,500 shares of the textile maker’s stock worth $1,106,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank raised its stake in Wolverine World Wide by 1.9% in the second quarter. Amalgamated Bank now owns 13,330 shares of the textile maker’s stock worth $373,000 after buying an additional 246 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in Wolverine World Wide by 1.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 22,840 shares of the textile maker’s stock worth $640,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wolverine World Wide Company Profile

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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