Wolverine World Wide (WWW) Downgraded by ValuEngine

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Wolverine World Wide (NYSE:WWW) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

A number of other equities research analysts have also weighed in on WWW. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price (up previously from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Wedbush reissued an “outperform” rating and issued a $41.00 target price on shares of Wolverine World Wide in a research note on Thursday, February 7th. Zacks Investment Research raised Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. DA Davidson set a $40.00 target price on Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Argus lowered Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 target price for the company. in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.65.

Shares of WWW stock opened at $30.16 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 0.85. Wolverine World Wide has a 12-month low of $28.97 and a 12-month high of $39.77. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.28 and a beta of 0.96.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The firm had revenue of $523.40 million during the quarter, compared to analyst estimates of $535.82 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide will post 2.3 earnings per share for the current fiscal year.

In other Wolverine World Wide news, Director David T. Kollat sold 9,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $35.94, for a total transaction of $354,727.80. Following the completion of the transaction, the director now owns 238,332 shares of the company’s stock, valued at approximately $8,565,652.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 6,668 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $35.80, for a total value of $238,714.40. Following the transaction, the director now directly owns 21,308 shares of the company’s stock, valued at approximately $762,826.40. The disclosure for this sale can be found here. Insiders have sold a total of 72,349 shares of company stock valued at $2,589,072 in the last ninety days. 4.93% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund purchased a new position in shares of Wolverine World Wide during the 4th quarter worth approximately $36,000. Premia Global Advisors LLC purchased a new position in shares of Wolverine World Wide during the 1st quarter worth approximately $47,000. Quadrant Capital Group LLC grew its holdings in shares of Wolverine World Wide by 216.5% during the 1st quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock worth $85,000 after acquiring an additional 1,678 shares during the period. Huntington National Bank grew its holdings in shares of Wolverine World Wide by 77.2% during the 4th quarter. Huntington National Bank now owns 2,929 shares of the textile maker’s stock worth $93,000 after acquiring an additional 1,276 shares during the period. Finally, One Wealth Advisors LLC purchased a new position in shares of Wolverine World Wide during the 1st quarter worth approximately $125,000. 95.66% of the stock is owned by institutional investors and hedge funds.

About Wolverine World Wide

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

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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