Whirlpool (NYSE:WHR) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Whirlpool Corporation (NYSE:WHR)’s stock price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $32.12 and traded as high as $33.02. Whirlpool shares last traded at $32.6230, with a volume of 4,192,672 shares traded.

Wall Street Analysts Forecast Growth

WHR has been the topic of several research reports. Citigroup cut their price target on Whirlpool from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Raymond James Financial reissued a “market perform” rating on shares of Whirlpool in a research report on Wednesday, August 19th. The Goldman Sachs Group reduced their price target on shares of Whirlpool from $41.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, October 27th. Mizuho lowered their price target on shares of Whirlpool from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Finally, BNP Paribas Exane initiated coverage on shares of Whirlpool in a report on Monday, July 13th. They set a “neutral” rating and a $43.00 price objective on the stock. Eight investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $32.22.

Whirlpool Price Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.69 and a current ratio of 1.14. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -15.03 and a beta of 1.21. The stock’s 50 day simple moving average is $32.12 and its 200-day simple moving average is $48.07.

Whirlpool (NYSE:WHR) last posted its quarterly earnings data on Monday, October 26th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.94). Whirlpool had a positive return on equity of 0.47% and a negative net margin of 0.93%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Equities research analysts anticipate that Whirlpool Corporation will post -1.36 EPS for the current fiscal year.

Institutional Trading of Whirlpool

Several large investors have recently added to or reduced their stakes in WHR. Kelleher Financial Advisors purchased a new position in shares of Whirlpool in the second quarter worth about $28,000. Silvant Capital Management LLC acquired a new position in Whirlpool in the 2nd quarter worth approximately $29,000. Fortitude Family Office LLC acquired a new stake in Whirlpool during the 3rd quarter valued at approximately $29,000. Root Financial Partners LLC purchased a new stake in shares of Whirlpool in the 3rd quarter valued at $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Whirlpool in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.

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.