Wolverine World Wide Given Average Recommendation of “Hold” by Analysts (NYSE:WWW)
Shares of Wolverine World Wide (NYSE:WWW) have received a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the company, American Banking News reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.60.
Several analysts have recently commented on the stock. Analysts at Macquarie initiated coverage on shares of Wolverine World Wide in a research note on Tuesday. They set a “neutral” rating and a $29.00 price target on the stock. Separately, analysts at KeyCorp upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Tuesday, August 19th. They now have a $30.00 price target on the stock. Finally, analysts at Argus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Friday, July 18th.
Shares of Wolverine World Wide (NYSE:WWW) traded up 0.82% on Wednesday, hitting $27.06. The stock had a trading volume of 99,739 shares. Wolverine World Wide has a 52 week low of $24.00 and a 52 week high of $34.10. The stock has a 50-day moving average of $25.29 and a 200-day moving average of $26.39. The company has a market cap of $2.746 billion and a P/E ratio of 23.38.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.04. The company had revenue of $613.50 million for the quarter, compared to the consensus estimate of $608.50 million. During the same quarter last year, the company posted $0.23 earnings per share. Wolverine World Wide’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Wolverine World Wide will post $1.60 earnings per share for the current fiscal year.
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.
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