Whirlpool Corp. (WHR) Downgraded to Neutral at MKM Partners
MKM Partners downgraded shares of Whirlpool Corp. (NYSE:WHR) from a buy rating to a neutral rating in a report published on Monday morning. They currently have $176.00 target price on the stock, down from their previous target price of $215.00.
A number of other equities research analysts also recently issued reports on WHR. Bank of America Corp. reiterated a buy rating on shares of Whirlpool Corp. in a research report on Wednesday, June 29th. Zacks Investment Research upgraded Whirlpool Corp. from a hold rating to a buy rating and set a $173.00 price objective on the stock in a research report on Wednesday, June 29th. Gabelli downgraded Whirlpool Corp. from a buy rating to a hold rating in a research report on Monday, September 12th. Finally, Raymond James Financial Inc. downgraded Whirlpool Corp. from a strong-buy rating to a hold rating in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Whirlpool Corp. presently has an average rating of Buy and a consensus price target of $193.63.
Shares of Whirlpool Corp. (NYSE:WHR) opened at 163.01 on Monday. The firm has a 50 day moving average price of $166.63 and a 200-day moving average price of $175.66. Whirlpool Corp. has a 52-week low of $123.60 and a 52-week high of $194.10. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 14.45 and a beta of 1.61.
Whirlpool Corp. (NYSE:WHR) last posted its earnings results on Friday, July 22nd. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.13. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.13 billion. Whirlpool Corp. had a return on equity of 18.68% and a net margin of 4.29%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.70 earnings per share. Equities research analysts anticipate that Whirlpool Corp. will post $14.69 earnings per share for the current year.
In other news, insider Joao Carlos Brega sold 14,166 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $193.43, for a total transaction of $2,740,129.38. Following the transaction, the insider now directly owns 29,043 shares of the company’s stock, valued at $5,617,787.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc R. Bitzer sold 1,012 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $190.00, for a total value of $192,280.00. Following the transaction, the insider now directly owns 1,012 shares in the company, valued at $192,280. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in WHR. FineMark National Bank & Trust boosted its position in shares of Whirlpool Corp. by 65.8% in the second quarter. FineMark National Bank & Trust now owns 645 shares of the company’s stock worth $108,000 after buying an additional 256 shares during the period. Barnett & Company Inc. bought a new position in shares of Whirlpool Corp. during the first quarter worth about $126,000. Winslow Evans & Crocker Inc. boosted its position in shares of Whirlpool Corp. by 12.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 704 shares of the company’s stock worth $117,000 after buying an additional 76 shares during the period. First Manhattan Co. boosted its position in shares of Whirlpool Corp. by 80.0% in the second quarter. First Manhattan Co. now owns 810 shares of the company’s stock worth $134,000 after buying an additional 360 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Whirlpool Corp. by 34.6% in the second quarter. IFP Advisors Inc now owns 833 shares of the company’s stock worth $139,000 after buying an additional 214 shares during the period. 89.55% of the stock is currently owned by hedge funds and other institutional investors.
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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