Wolverine World Wide, Inc. (WWW) Receives “Hold” Rating from Pivotal Research
Wolverine World Wide, Inc. (NYSE:WWW)‘s stock had its “hold” rating reissued by research analysts at Pivotal Research in a research report issued on Thursday. They currently have a $32.00 price objective on the textile maker’s stock. Pivotal Research’s target price indicates a potential upside of 10.57% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research note on Monday, September 25th. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research note on Sunday, September 17th. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Saturday, August 12th. Finally, Piper Jaffray Companies set a $25.00 price objective on shares of Wolverine World Wide and gave the company a “hold” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.06.
Shares of Wolverine World Wide (WWW) opened at 28.94 on Thursday. Wolverine World Wide has a 12 month low of $20.58 and a 12 month high of $29.62. The firm has a market cap of $2.80 billion, a P/E ratio of 34.01 and a beta of 0.98. The stock’s 50 day moving average price is $27.08 and its 200-day moving average price is $26.19.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The firm had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. During the same period last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Wolverine World Wide will post $1.62 earnings per share for the current fiscal year.
WARNING: “Wolverine World Wide, Inc. (WWW) Receives “Hold” Rating from Pivotal Research” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/05/wolverine-world-wide-inc-www-receives-hold-rating-from-pivotal-research.html.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Saturna Capital bought a new position in shares of Wolverine World Wide during the third quarter worth $22,000. Glen Harbor Capital Management LLC raised its holdings in shares of Wolverine World Wide by 16.7% during the first quarter. Glen Harbor Capital Management LLC now owns 4,158 shares of the textile maker’s stock worth $104,000 after acquiring an additional 594 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Wolverine World Wide by 449.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,373 shares of the textile maker’s stock worth $109,000 after acquiring an additional 4,395 shares during the period. Barclays PLC acquired a new stake in shares of Wolverine World Wide during the first quarter worth $119,000. Finally, Bank of Montreal Can raised its holdings in shares of Wolverine World Wide by 15.1% during the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock worth $121,000 after acquiring an additional 635 shares during the period. 90.84% of the stock is currently owned by institutional investors.
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.
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.