Wolverine World Wide (NYSE:WWW) Stock Rating Lowered by StockNews.com

Wolverine World Wide (NYSE:WWW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other analysts have also commented on the stock. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Down 1.3 %

WWW stock opened at $22.66 on Tuesday. The company’s 50 day simple moving average is $22.48 and its 200-day simple moving average is $17.32. The firm has a market capitalization of $1.81 billion, a PE ratio of -25.46 and a beta of 1.88. Wolverine World Wide has a 12 month low of $7.88 and a 12 month high of $24.64. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Insiders Place Their Bets

In other news, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the transaction, the insider now owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter valued at $35,000. Cedar Mountain Advisors LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter valued at $70,000. GAMMA Investing LLC grew its holdings in Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide during the 2nd quarter valued at $68,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Wolverine World Wide during the 3rd quarter worth $113,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.