Whirlpool (NYSE:WHR) Trading Down 4% on Analyst Downgrade

Shares of Whirlpool Co. (NYSE:WHR) traded down 4% during mid-day trading on Friday after Royal Bank of Canada lowered their price target on the stock from $76.00 to $74.00. Royal Bank of Canada currently has an underperform rating on the stock. Whirlpool traded as low as $105.92 and last traded at $105.92. 406,555 shares were traded during mid-day trading, a decline of 66% from the average session volume of 1,195,922 shares. The stock had previously closed at $110.37.

Separately, Bank of America increased their price target on shares of Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Whirlpool presently has an average rating of “Hold” and a consensus price target of $107.00.

Insider Activity

In related news, EVP Juan Carlos Puente sold 3,266 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $100.00, for a total transaction of $326,600.00. Following the completion of the sale, the executive vice president now directly owns 19,070 shares in the company, valued at approximately $1,907,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.05% of the company’s stock.

Institutional Investors Weigh In On Whirlpool

Large investors have recently modified their holdings of the business. SouthState Corp purchased a new stake in Whirlpool during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Whirlpool during the 2nd quarter worth approximately $32,000. Altshuler Shaham Ltd purchased a new stake in shares of Whirlpool in the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of Whirlpool by 1,010.5% in the second quarter. EverSource Wealth Advisors LLC now owns 422 shares of the company’s stock valued at $43,000 after purchasing an additional 384 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Whirlpool by 80.6% during the second quarter. UMB Bank n.a. now owns 428 shares of the company’s stock worth $44,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.

Whirlpool Price Performance

The company has a debt-to-equity ratio of 1.88, a current ratio of 0.96 and a quick ratio of 0.58. The stock has a 50 day simple moving average of $102.00 and a two-hundred day simple moving average of $98.76. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 10.76 and a beta of 1.44.

Whirlpool (NYSE:WHR) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.44. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the company posted $5.45 EPS. The company’s revenue was down 18.9% compared to the same quarter last year. On average, equities research analysts predict that Whirlpool Co. will post 11.24 earnings per share for the current fiscal year.

Whirlpool Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s payout ratio is presently 72.39%.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.