Wolverine World Wide Inc. (WWW) Receives Average Rating of “Hold” from Analysts
Shares of Wolverine World Wide Inc. (NYSE:WWW) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.89.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, September 28th. Wedbush assumed coverage on shares of Wolverine World Wide in a research report on Tuesday, November 1st. They issued an “outperform” rating and a $25.00 price objective for the company. Susquehanna assumed coverage on shares of Wolverine World Wide in a research report on Friday, August 12th. They issued a “negative” rating and a $20.00 price objective for the company. Argus reissued a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. Finally, B. Riley reissued a “neutral” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Monday, October 24th.
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In other Wolverine World Wide news, Director William K. Gerber sold 2,162 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $21.88, for a total transaction of $47,304.56. Following the completion of the sale, the director now directly owns 12,162 shares in the company, valued at $266,104.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.54% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in 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 valued at $109,000 after buying an additional 4,395 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Wolverine World Wide during the third quarter valued at $161,000. Hsbc Holdings PLC purchased a new position in shares of Wolverine World Wide during the third quarter valued at $212,000. Zweig DiMenna Associates LLC purchased a new position in shares of Wolverine World Wide during the third quarter valued at $235,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Wolverine World Wide during the second quarter valued at $209,000. Institutional investors own 89.38% of the company’s stock.
Wolverine World Wide (NYSE:WWW) traded down 3.19% during trading on Wednesday, hitting $22.49. 648,164 shares of the company were exchanged. The company has a 50-day moving average of $22.45 and a 200-day moving average of $21.95. Wolverine World Wide has a 12 month low of $14.74 and a 12 month high of $25.54. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.01 and a beta of 0.68.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Tuesday, October 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company earned $603.70 million during the quarter, compared to analysts’ expectations of $631.09 million. Wolverine World Wide had a net margin of 4.02% and a return on equity of 13.38%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share. Analysts forecast that Wolverine World Wide will post $1.34 EPS for the current year.
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. 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.
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