Whirlpool Corporation (NYSE:WHR – Get Free Report) shares saw an uptick in trading volume on Tuesday. Approximately 3,185,495 shares changed hands during trading, an increase of 16% from the average daily volume of 2,740,246 shares. The stock last traded at $26.4160 and had previously closed at $26.45.
Key Stories Impacting Whirlpool
Here are the key news stories impacting Whirlpool this week:
- Positive Sentiment: Whirlpool’s recovery case still includes potential improvement in free cash flow, debt reduction and cost-cutting measures. Some institutional investors have increased their holdings, suggesting certain investors believe the housing-related downturn may be largely reflected in the valuation. Whirlpool’s Stock Collapse Raises a Bigger Question About Its Recovery Potential
Analysts Set New Price Targets
A number of brokerages have recently commented on WHR. Wall Street Zen cut Whirlpool from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 24th. Citigroup decreased their price objective on shares of Whirlpool from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their price target on Whirlpool from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday. BNP Paribas Exane started coverage on shares of Whirlpool in a research report on Monday, July 13th. They set a “neutral” rating and a $43.00 price objective on the stock. Finally, Zacks Research downgraded shares of Whirlpool from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. 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.com, the stock currently has an average rating of “Reduce” and a consensus target price of $32.22.
Check Out Our Latest Research Report on WHR
Whirlpool Stock Down 0.7%
The stock’s fifty day moving average is $33.09 and its two-hundred day moving average is $49.41. The company has a market capitalization of $1.78 billion, a PE ratio of -12.55, a P/E/G ratio of 24.99 and a beta of 1.21. The company has a current ratio of 1.15, a quick ratio of 0.71 and a debt-to-equity ratio of 1.74.
Whirlpool (NYSE:WHR – Get Free Report) last issued 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). Whirlpool had a return on equity of 4.18% and a net margin of 1.17%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, analysts predict that Whirlpool Corporation will post 1.13 EPS for the current year.
Institutional Investors Weigh In On Whirlpool
Several large investors have recently added to or reduced their stakes in the company. Greatmark Investment Partners Inc. grew its position in shares of Whirlpool by 8.7% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 135,031 shares of the company’s stock valued at $4,143,000 after purchasing an additional 10,855 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Whirlpool by 66.2% in the third quarter. Angeles Wealth Management LLC now owns 65,110 shares of the company’s stock worth $1,998,000 after purchasing an additional 25,939 shares during the period. Evergreen Capital Management LLC purchased a new stake in shares of Whirlpool in the third quarter worth $378,000. Root Financial Partners LLC purchased a new stake in shares of Whirlpool in the third quarter worth $33,000. Finally, Crossmark Global Holdings Inc. raised its position in shares of Whirlpool by 19.4% in the third quarter. Crossmark Global Holdings Inc. now owns 10,983 shares of the company’s stock worth $337,000 after buying an additional 1,788 shares in the last quarter. 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.
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