Argus downgraded Wolverine World Wide (WWW) to Hold from Buy. The firm says the weak direct-to-consumer revenue in Q3 suggest continuing weakness in the channel that is important to the company’s growth and profitability, the analyst tells investors in a research note. Argus adds that at 13.5-times earnings, the stock looks “fairly valued”.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WWW:
- Wolverine World Wide downgraded to Hold from Buy at Argus
- Wolverine World Wide downgraded to Neutral from Outperform at BNP Paribas
- Seaport apparel/footwear analysts hold an analyst/industry conference call
- Wolverine World Wide price target lowered to $26 from $28 at UBS
- Wolverine World Wide downgraded to Neutral from Overweight at Piper Sandler