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

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

Several other analysts also recently weighed in on the company. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Trading Down 1.4 %

NYSE:WWW traded down $0.30 during mid-day trading on Tuesday, reaching $20.50. 942,275 shares of the company’s stock traded hands, compared to its average volume of 1,081,551. Wolverine World Wide has a 12-month low of $8.25 and a 12-month high of $24.64. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -23.03 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The company has a 50 day moving average price of $22.73 and a 200-day moving average price of $18.63.

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the transaction, the insider now owns 34,206 shares in the company, valued at $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. lifted its stake in Wolverine World Wide by 16.5% in the fourth quarter. Prudential Financial Inc. now owns 521,935 shares of the textile maker’s stock worth $11,587,000 after purchasing an additional 74,090 shares during the last quarter. LPL Financial LLC bought a new stake in Wolverine World Wide in the fourth quarter worth about $378,000. KLP Kapitalforvaltning AS bought a new stake in Wolverine World Wide in the fourth quarter worth about $355,000. AXQ Capital LP bought a new stake in Wolverine World Wide in the fourth quarter worth about $310,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Wolverine World Wide in the fourth quarter worth about $4,317,000. 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.