Zacks Downgrades Wolverine World Wide to Neutral (WWW)
Wolverine World Wide (NYSE:WWW) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $61.40 target price on the stock. Zacks‘ price target points to a potential upside of 7.61% from the stock’s previous close.
Wolverine World Wide (NYSE:WWW) traded up 0.68% on Tuesday, hitting $57.45. The stock had a trading volume of 178,508 shares. Wolverine World Wide has a 52 week low of $38.39 and a 52 week high of $60.35. The stock has a 50-day moving average of $57.14 and a 200-day moving average of $51.17. The company has a market cap of $2.884 billion and a P/E ratio of 37.22.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.12. The company had revenue of $587.80 million for the quarter, compared to the consensus estimate of $591.03 million. During the same quarter last year, the company posted $0.48 earnings per share. Wolverine World Wide’s revenue was up 88.0% compared to the same quarter last year. On average, analysts predict that Wolverine World Wide will post $2.79 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital initiated coverage on shares of Wolverine World Wide (NYSE:WWW) in a research note to investors on Monday, August 26th. They set a “buy” rating on the stock. Separately, analysts at Argus raised their price target on shares of Wolverine World Wide (NYSE:WWW) from $54.00 to $66.00 in a research note to investors on Thursday, July 11th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee reiterated an “underperform” rating on shares of Wolverine World Wide (NYSE:WWW) in a research note to investors on Wednesday, July 10th. They now have a $43.00 price target on the stock, up previously from $36.00.
One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.18.
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, performance outdoor footwear and apparel, industrial work shoes, boots and apparel, and uniform shoes and boots.
To view Zacks’ full report, visit www.zacks.com
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