Whirlpool Corporation (WHR) Cut to “Sell” at Zacks Investment Research

Whirlpool Corporation (NYSE:WHR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, October 18th.

According to Zacks, “Whirlpool has underperformed the sector in the past three months due to its dismal earnings surprise trend in the recent quarters. Evidently, the company delivered fourth consecutive negative surprise in second-quarter 2017. Further, the company slashed its earnings guidance for 2017 due to higher raw material costs and lower product price/mix in China and Europe. However, Whirlpool has been riding on its innovation strategy that helps it to tap additional sales and gain market share. Moreover, the company's solid integration and cost-productivity activities have been enhancing its performance. These factors, along with the company’s robust brands portfolio, and continued strength across North America and Latin America have been its growth drivers. Also, the company anticipates profitable growth in the EMEA region in the second half of 2017 and expects to navigate through the volatility in emerging markets.”

A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine raised shares of Whirlpool Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $209.00 target price on shares of Whirlpool Corporation in a report on Tuesday, October 10th. MKM Partners set a $177.00 target price on shares of Whirlpool Corporation and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, Credit Suisse Group started coverage on shares of Whirlpool Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $184.67.

Shares of Whirlpool Corporation (WHR) traded down $0.44 during mid-day trading on Wednesday, hitting $163.42. 471,005 shares of the company were exchanged, compared to its average volume of 1,431,508. The stock has a market cap of $11,775.44, a PE ratio of 11.70, a P/E/G ratio of 1.59 and a beta of 1.87. The company has a quick ratio of 0.55, a current ratio of 0.90 and a debt-to-equity ratio of 0.65. Whirlpool Corporation has a 12 month low of $151.23 and a 12 month high of $202.99.

Whirlpool Corporation (NYSE:WHR) last announced its quarterly earnings results on Monday, October 23rd. The company reported $3.83 EPS for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.07). The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Whirlpool Corporation had a net margin of 3.76% and a return on equity of 18.45%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. sell-side analysts anticipate that Whirlpool Corporation will post 13.7 EPS for the current fiscal year.

Whirlpool Corporation announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that allows the company to repurchase $2.35 billion in shares. This repurchase authorization allows the company to reacquire up to 16.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Several institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Whirlpool Corporation by 3.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,929 shares of the company’s stock valued at $1,623,000 after purchasing an additional 323 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Whirlpool Corporation by 67.8% in the 3rd quarter. Sigma Planning Corp now owns 2,129 shares of the company’s stock valued at $393,000 after purchasing an additional 860 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Whirlpool Corporation by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 125,415 shares of the company’s stock valued at $23,132,000 after purchasing an additional 768 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Whirlpool Corporation by 10.1% in the 3rd quarter. Advisor Group Inc. now owns 5,530 shares of the company’s stock valued at $1,018,000 after purchasing an additional 507 shares in the last quarter. Finally, Redmond Asset Management LLC boosted its stake in shares of Whirlpool Corporation by 5.3% in the 3rd quarter. Redmond Asset Management LLC now owns 18,241 shares of the company’s stock valued at $3,364,000 after purchasing an additional 915 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Whirlpool Corporation Company Profile

Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.

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