Zacks Upgrades Wolverine World Wide to Outperform (WWW)
Wolverine World Wide (NYSE:WWW) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Monday, American Banking News.com reports. The firm currently has a $36.60 price objective on the stock. Zacks‘ target price suggests a potential upside of 8.44% from the stock’s previous close.
Wolverine World Wide (NYSE:WWW) traded down 0.53% on Monday, hitting $33.57. 283,858 shares of the company’s stock traded hands. Wolverine World Wide has a 52 week low of $19.195 and a 52 week high of $34.10. The stock’s 50-day moving average is $32.57 and its 200-day moving average is $29.51. The company has a market cap of $1.688 billion and a P/E ratio of 34.51.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of 0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Monday, December 30th.
A number of other analysts have also recently weighed in on WWW. Analysts at Ned Davis Research upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 18th. Separately, analysts at Sterne Agee raised their price target on shares of Wolverine World Wide from $43.00 to $46.00 in a research note to investors on Wednesday, October 9th. They now have an “underperform” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of Wolverine World Wide from $58.00 to $64.00 in a research note to investors on Wednesday, October 9th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.26.
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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