Wolverine World Wide, Inc. (NYSE:WWW) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other brokerages have also recently commented on WWW. BidaskClub raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Piper Jaffray Companies set a $25.00 target price on Wolverine World Wide and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Saturday, August 12th. Telsey Advisory Group raised their target price on Wolverine World Wide from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, May 11th. Finally, Wedbush raised their target price on Wolverine World Wide from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Wolverine World Wide currently has an average rating of “Hold” and a consensus target price of $23.86.

Shares of Wolverine World Wide (NYSE WWW) traded up 0.69% during midday trading on Thursday, hitting $26.30. 324,681 shares of the stock were exchanged. The firm’s 50 day moving average is $27.12 and its 200-day moving average is $25.66. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 30.90 and a beta of 0.94. Wolverine World Wide has a 1-year low of $20.58 and a 1-year high of $28.64.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.14. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. Wolverine World Wide’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts predict that Wolverine World Wide will post $1.61 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was first posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/08/27/wolverine-world-wide-inc-www-cut-to-hold-at-valuengine.html.

Hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Wolverine World Wide by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 160,212 shares of the textile maker’s stock valued at $3,517,000 after buying an additional 3,953 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after buying an additional 635 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Wolverine World Wide by 30.0% in the first quarter. Nationwide Fund Advisors now owns 123,305 shares of the textile maker’s stock valued at $3,079,000 after buying an additional 28,445 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Wolverine World Wide by 16.7% in the first quarter. Glen Harbor Capital Management LLC now owns 4,158 shares of the textile maker’s stock valued at $104,000 after buying an additional 594 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Wolverine World Wide by 25.3% in the first quarter. Wells Fargo & Company MN now owns 114,690 shares of the textile maker’s stock valued at $2,864,000 after buying an additional 23,149 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

Receive News & Ratings for Wolverine World Wide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide Inc. and related companies with MarketBeat.com's FREE daily email newsletter.