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 changing hands.

Several other equities research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Whirlpool from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Citigroup dropped their price target on Whirlpool from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday. Bank of America reduced 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. Longbow Research cut Whirlpool from a “buy” rating to a “neutral” rating in a research report on Monday, October 19th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Whirlpool in a research note on Wednesday, August 19th. Eight analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $32.22.

Institutional Investors Weigh In On Whirlpool

A number of hedge funds and other institutional investors have recently bought and sold shares of WHR. Primecap Management Co. CA purchased a new stake in Whirlpool during the second quarter worth about $141,801,000. RWWM Inc. grew its stake in Whirlpool by 191.6% in the 1st quarter. RWWM Inc. now owns 2,422,618 shares of the company’s stock valued at $130,628,000 after acquiring an additional 1,591,849 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Whirlpool in the 2nd quarter valued at about $61,003,000. Nykredit A S purchased a new position in Whirlpool during the 2nd quarter valued at about $51,953,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Whirlpool during the 2nd quarter valued at about $24,601,000. Institutional investors and hedge funds own 90.78% of the company’s stock.

Whirlpool Trading Up 7.1%

The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 0.71. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 227.58 and a beta of 1.21. The business’s 50-day simple moving average is $32.87 and its 200-day simple moving average is $49.14.

Whirlpool (NYSE:WHR) last announced its quarterly earnings results on Monday, October 26th. The company reported ($0.21) earnings per share (EPS) 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 analysts’ expectations of $3.93 billion. Whirlpool had a negative net margin of 0.93% and a positive return on equity of 0.47%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. Research analysts predict that Whirlpool Corporation will post -0.64 earnings per share for the current fiscal year.

About Whirlpool

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.