Whirlpool Corp. (WHR) Cut to “Neutral” at MKM Partners
Whirlpool Corp. (NYSE:WHR) was downgraded by research analysts at MKM Partners from a “buy” rating to a “neutral” rating in a note issued to investors on Monday. They currently have a $176.00 target price on the stock, down from their previous target price of $215.00. MKM Partners’ price target points to a potential upside of 9.49% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Bank of America Corp. reissued a “buy” rating on shares of Whirlpool Corp. in a report on Wednesday, June 29th. Zacks Investment Research raised shares of Whirlpool Corp. from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Wednesday, June 29th. Raymond James Financial Inc. cut shares of Whirlpool Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Gabelli cut shares of Whirlpool Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $193.63.
Shares of Whirlpool Corp. (NYSE:WHR) traded up 0.12% on Monday, hitting $160.94. The stock had a trading volume of 153,304 shares. The firm has a 50-day moving average of $167.14 and a 200 day moving average of $175.80. The company has a market capitalization of $12.14 billion, a PE ratio of 14.26 and a beta of 1.61. Whirlpool Corp. has a 1-year low of $123.60 and a 1-year high of $194.10.
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Whirlpool Corp. (NYSE:WHR) last posted its quarterly earnings results on Friday, July 22nd. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.13. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Whirlpool Corp. had a net margin of 4.29% and a return on equity of 18.68%. Whirlpool Corp.’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 EPS. On average, equities analysts anticipate that Whirlpool Corp. will post $14.69 earnings per share for the current fiscal year.
In related news, Chairman Jeff M. Fettig sold 91,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $189.42, for a total value of $17,237,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David T. Szczupak sold 10,307 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $181.33, for a total transaction of $1,868,968.31. Following the completion of the transaction, the insider now owns 4,807 shares of the company’s stock, valued at $871,653.31. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC raised its position in shares of Whirlpool Corp. by 84.4% in the first quarter. Riverhead Capital Management LLC now owns 34,172 shares of the company’s stock valued at $6,162,000 after buying an additional 15,643 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Whirlpool Corp. by 288.9% in the first quarter. Pictet Asset Management Ltd. now owns 195,827 shares of the company’s stock valued at $30,416,000 after buying an additional 145,474 shares during the period. Capital Growth Management LP raised its position in shares of Whirlpool Corp. by 28.7% in the first quarter. Capital Growth Management LP now owns 785,000 shares of the company’s stock valued at $141,567,000 after buying an additional 175,000 shares during the period. Lazard Asset Management LLC bought a new position in shares of Whirlpool Corp. during the first quarter valued at about $182,000. Finally, Optimum Investment Advisors bought a new position in shares of Whirlpool Corp. during the first quarter valued at about $1,176,000. Institutional investors own 89.55% of the company’s stock.
Whirlpool Corp. Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.
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