Wolverine (NYSE:WWW) Rating Cut

In a research report sent to investors and clients on 9 February, Pivotal Research Group has downgraded Wolverine (NYSE:WWW) Stock to “Hold” and has set an estimated 12-month target price at $33.0. WWW’s old rating was “Buy”.

The stock downgrade is noticed by investors, as NYSE:WWW is now trading -3.68% lower at $26.99 as of 12:04 PM New York time. Wolverine’s stock is 0% over the last 200 days. It has underperformed the S&P 500 Index, which has increased 6.00% over the same time period.

According to data compiled by Thomson Reuters, Wolverine (NYSE:WWW)’s stock is covered by 16 equity analysts across the Street, with 0 analysts giving it a Sell rating, 3 a Buy rating, while 14 consider it a Hold. The 12-month consensus target price for the stock is $19.78, which reflects an downside potential of 26.71% over the current price.

Institutional Ownership

Adirondack Research & Management Inc. had the biggest stake with ownership of 200,134 shares as of q2 2015 for 1.66% of the stock exposure. Champlain Investment Partners Llc is another very bullish active investment manager who is possessing 3.98M shares of Wolverine or 1.39% of their stock exposure. Further, Arrowpoint Asset Management Llc have 1.32% of their stock exposure invested in the company for 3.15M shares. The Wyoming-based fund Friess Associates Llc revealed it had acquired a stake worth about 1.28% of the active investment manager’s stock portfolio in Wolverine. The Alabama-based fund Mesirow Financial Investment Management is also positive about the stock, possessing 573,300 shares or 1.25% of their stock exposure.

Wolverine (NYSE:WWW) Profile

Wolverine (NYSE:WWW) traded down -3.68% on 9 February, hitting $26.99. A total of 1.60M shares of the company’s stock traded hands. This is up from average of 783,392 shares. Wolverine has a 52 week low of $20.94 and a 52 week high of $29.62. The company has a market cap of $2.61B and a P/E ratio of 31.8.

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The post New York: Wolverine (NYSE:WWW) Stock Rating Lowered to “Hold” by Pivotal Research Group Having $33.0 TP. Lost Its Old “Buy” Rating appeared first on Octafinance.