Wolverine World Wide Inc. (WWW) Downgraded to Hold at Zacks Investment Research
According to Zacks, “WOLVERINE WORLD WIDE INC. Wolverine World Wide, Inc. designs, manufactures, distributes and markets various brands and styles of footwear. The wide variety of footwear sold by the Company includes casual shoes, slippers, moccasins, dress shoes, boots, uniform shoes and work boots and shoes. The Company is also a domestic tanner of pigskin. “
A number of other brokerages also recently issued reports on WWW. B. Riley reaffirmed a neutral rating and issued a $26.00 target price on shares of Wolverine World Wide in a research note on Friday, August 26th. Telsey Advisory Group raised their target price on Wolverine World Wide from $20.00 to $23.00 and gave the stock a market perform rating in a research note on Wednesday, July 27th. Susquehanna started coverage on Wolverine World Wide in a research note on Friday, August 12th. They issued a negative rating and a $20.00 target price for the company. Argus reaffirmed a buy rating on shares of Wolverine World Wide in a research note on Wednesday, August 3rd. Finally, TheStreet raised Wolverine World Wide from a hold rating to a buy rating in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $21.30.
Shares of Wolverine World Wide (NYSE:WWW) opened at 22.56 on Friday. The company has a 50-day moving average of $22.98 and a 200-day moving average of $21.03. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 22.86 and a beta of 0.76. Wolverine World Wide has a 1-year low of $14.74 and a 1-year high of $25.54.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $583.70 million for the quarter, compared to analyst estimates of $578.99 million. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, equities research analysts expect that Wolverine World Wide will post $1.37 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in shares of Wolverine World Wide by 449.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,373 shares of the company’s stock worth $109,000 after buying an additional 4,395 shares during the period. BlackRock Inc. boosted its position in shares of Wolverine World Wide by 126.1% in the first quarter. BlackRock Inc. now owns 6,967 shares of the company’s stock valued at $128,000 after buying an additional 3,885 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Wolverine World Wide during the second quarter valued at about $209,000. Denver Investment Advisors LLC bought a new position in shares of Wolverine World Wide during the second quarter valued at about $217,000. Finally, Amalgamated Bank boosted its position in shares of Wolverine World Wide by 5.9% in the second quarter. Amalgamated Bank now owns 11,509 shares of the company’s stock valued at $276,000 after buying an additional 639 shares during the last quarter. Institutional investors own 89.69% 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. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wolverine World Wide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide Inc. and related companies with MarketBeat.com's FREE daily email newsletter.