Whirlpool’s “Neutral” Rating Reaffirmed at Zacks (WHR)
Whirlpool (NYSE:WHR)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Wednesday. They currently have a $151.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 4.94% from the stock’s previous close.
Zacks’ analyst wrote, “Whirlpool witnessed steady growth in its bottom-line during second-quarter 2014, mainly on the back of ongoing cost and capacity reduction initiatives. The company witnessed a marginal decline in sales mainly due to unfavorable exchange rates. We appreciate Whirlpool’s understanding of believing in innovation as a key ingredient for growth, which helped it in producing differentiated items while generating extra revenues as well as gaining market share. Further, we believe Whirlpool’s global expansion policy will not only help it in mitigating risks stemming from geographical concentration in one region but will also boost its top-line. However, we maintain our long-term Neutral recommendation on the stock as lingering macroeconomic challenges in Venezuela and Argentina could negatively impact its financials. Furthermore, fluctuation in raw material prices and limited clientele could hinder Whirlpool’s growth in the future.”
Whirlpool (NYSE:WHR) traded up 1.45% on Wednesday, hitting $145.97. The stock had a trading volume of 429,353 shares. Whirlpool has a 52 week low of $124.39 and a 52 week high of $160.01. The stock has a 50-day moving average of $141.4 and a 200-day moving average of $144.2. The company has a market cap of $11.384 billion and a price-to-earnings ratio of 16.08.
Whirlpool (NYSE:WHR) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.92 by $0.30. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $2.37 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Whirlpool will post $11.55 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WHR. Analysts at Sterne Agee initiated coverage on shares of Whirlpool in a research note on Wednesday, June 4th. They set a “buy” rating on the stock. Analysts at Longbow Research downgraded shares of Whirlpool from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $187.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Whirlpool presently has an average rating of “Buy” and an average target price of $167.67.
Whirlpool Corporation (NYSE:WHR) is a manufacturer and marketer of home appliances.
To view Zacks’ full report, visit Zacks’ official website.
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