ValuEngine Downgrades Wolverine World Wide (WWW) to Hold

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Wolverine World Wide (NYSE:WWW) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research analysts have also recently weighed in on WWW. DA Davidson set a $44.00 price target on shares of Wolverine World Wide and gave the company a “buy” rating in a report on Thursday, August 9th. Robert W. Baird reissued a “buy” rating and issued a $43.00 price target on shares of Wolverine World Wide in a report on Friday, August 10th. Telsey Advisory Group increased their price target on shares of Wolverine World Wide from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Pivotal Research reissued a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of Wolverine World Wide in a report on Friday, August 3rd. Finally, Argus increased their price target on shares of Wolverine World Wide from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.75.

Shares of WWW stock traded down $3.29 on Wednesday, reaching $32.89. The stock had a trading volume of 1,764,190 shares, compared to its average volume of 671,380. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. Wolverine World Wide has a 12 month low of $25.25 and a 12 month high of $39.77.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, November 7th. The textile maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The firm had revenue of $558.60 million for the quarter, compared to analysts’ expectations of $584.25 million. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Sell-side analysts predict that Wolverine World Wide will post 2.13 EPS for the current fiscal year.

In other Wolverine World Wide news, insider Richard Woodworth sold 19,376 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.73, for a total transaction of $750,432.48. Following the transaction, the insider now owns 123,040 shares in the company, valued at approximately $4,765,339.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William K. Gerber sold 1,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $37.17, for a total transaction of $37,170.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,527 shares of company stock worth $2,644,036. Company insiders own 5.81% of the company’s stock.

Several large investors have recently made changes to their positions in WWW. BlackRock Inc. boosted its position in shares of Wolverine World Wide by 5.3% during the 2nd quarter. BlackRock Inc. now owns 13,103,559 shares of the textile maker’s stock worth $455,613,000 after acquiring an additional 664,587 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Wolverine World Wide by 2.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,090,118 shares of the textile maker’s stock worth $81,620,000 after acquiring an additional 57,188 shares in the last quarter. Northern Trust Corp boosted its position in shares of Wolverine World Wide by 0.9% during the 2nd quarter. Northern Trust Corp now owns 1,935,125 shares of the textile maker’s stock worth $67,284,000 after acquiring an additional 17,946 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Wolverine World Wide by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 1,378,945 shares of the textile maker’s stock worth $47,945,000 after acquiring an additional 22,691 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Wolverine World Wide by 5.0% during the 2nd quarter. Royce & Associates LP now owns 1,245,486 shares of the textile maker’s stock worth $43,306,000 after acquiring an additional 58,790 shares in the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

Further Reading: Technical Analysis

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

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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