Whirlpool (NYSE:WHR) Shares Gap Down Following Analyst Downgrade

Whirlpool Corporation (NYSE:WHR)’s share price gapped down prior to trading on Wednesday after Weiss Ratings downgraded the stock from a sell (d) rating to a sell (e+) rating. The stock had previously closed at $27.42, but opened at $26.06. Whirlpool shares last traded at $26.4260, with a volume of 1,290,806 shares.

WHR has been the subject of a number of other research reports. Bank of America dropped their price objective on Whirlpool from $38.00 to $31.00 and set an “underperform” rating for the company in a research note on Friday, September 11th. Wall Street Zen downgraded Whirlpool from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 24th. Royal Bank Of Canada lowered their price target on Whirlpool from $22.00 to $15.00 and set an “underperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price target on Whirlpool from $41.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, BNP Paribas Exane began coverage on shares of Whirlpool in a report on Monday, July 13th. They set a “neutral” rating and a $43.00 price objective for the company. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $32.22.

Institutional Investors Weigh In On Whirlpool

Several large investors have recently made changes to their positions in WHR. Kelleher Financial Advisors bought a new position in Whirlpool during the second quarter valued at approximately $28,000. Silvant Capital Management LLC bought a new stake in Whirlpool in the 2nd quarter worth approximately $29,000. SJS Investment Consulting Inc. purchased a new stake in shares of Whirlpool during the 1st quarter worth approximately $45,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Whirlpool during the 1st quarter worth approximately $46,000. Finally, North Star Investment Management Corp. boosted its position in shares of Whirlpool by 184.0% during the 1st quarter. North Star Investment Management Corp. now owns 926 shares of the company’s stock valued at $50,000 after acquiring an additional 600 shares during the last quarter. 90.78% of the stock is owned by institutional investors.

Whirlpool Stock Up 7.1%

The business has a 50-day moving average price of $32.87 and a 200 day moving average price of $49.14. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.92 billion, a P/E ratio of 227.58 and a beta of 1.21.

Whirlpool (NYSE:WHR) last announced its quarterly earnings results on Monday, October 26th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.94). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.93 billion. Whirlpool had a positive return on equity of 0.47% and a negative net margin of 0.93%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, equities analysts expect that Whirlpool Corporation will post -0.64 EPS for the current fiscal year.

Whirlpool Company Profile

Whirlpool Corporation (NYSE: WHR) is a global manufacturer and marketer of home appliances. The company develops products designed for kitchens and laundry rooms, including refrigerators and freezers, cooking appliances, dishwashers, washing machines and dryers, and related household appliances.

Whirlpool sells products under a portfolio of well-known brands, including Whirlpool, Maytag, KitchenAid, JennAir and Amana. Its products are distributed through retailers, builders, distributors and other sales channels to residential customers in North America and international markets.

The company traces its history to 1911, when it was founded as the Upton Machine Company in Benton Harbor, Michigan.