Wolverine World Wide, Inc. (WWW) Upgraded to Buy at ValuEngine

Wolverine World Wide, Inc. (NYSE:WWW) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also commented on WWW. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, April 26th. B. Riley reiterated a “neutral” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Monday, May 8th. Telsey Advisory Group increased their price objective on Wolverine World Wide from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, May 11th. Piper Jaffray Companies reiterated a “hold” rating and issued a $24.00 price objective on shares of Wolverine World Wide in a research report on Thursday, May 11th. Finally, Wedbush increased their price objective on Wolverine World Wide from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.71.

Shares of Wolverine World Wide (NYSE WWW) opened at 25.94 on Friday. The stock has a 50 day moving average price of $27.39 and a 200 day moving average price of $25.41. Wolverine World Wide has a one year low of $20.58 and a one year high of $28.64. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 29.44 and a beta of 0.94.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, beating 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 return on equity of 14.14% and a net margin of 3.47%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. On average, equities research analysts forecast that Wolverine World Wide will post $1.57 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Wolverine World Wide during the fourth quarter valued at about $265,000. Teachers Advisors LLC raised its position in Wolverine World Wide by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 160,212 shares of the textile maker’s stock valued at $3,517,000 after buying an additional 3,953 shares in the last quarter. Bank of Montreal Can raised its position in Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after buying an additional 635 shares in the last quarter. Legato Capital Management LLC raised its position in Wolverine World Wide by 2,397.0% in the first quarter. Legato Capital Management LLC now owns 97,308 shares of the textile maker’s stock valued at $3,897,000 after buying an additional 93,411 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Wolverine World Wide by 30.0% in the first quarter. Nationwide Fund Advisors now owns 123,305 shares of the textile maker’s stock valued at $3,079,000 after buying an additional 28,445 shares in the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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