Whirlpool (WHR) Rating Lowered to Neutral at JPMorgan Chase & Co.

Whirlpool (NYSE:WHR) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Whirlpool from a “sell” rating to a “hold” rating in a research report on Sunday, July 15th. Standpoint Research began coverage on shares of Whirlpool in a research report on Tuesday, July 10th. They set a “buy” rating on the stock. Royal Bank of Canada cut shares of Whirlpool from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 25th. Credit Suisse Group set a $175.00 target price on shares of Whirlpool and gave the company a “buy” rating in a report on Tuesday, July 24th. Finally, Longbow Research cut shares of Whirlpool from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $171.88.

Shares of WHR stock opened at $112.56 on Tuesday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 0.90 and a beta of 1.54. Whirlpool has a 1-year low of $110.33 and a 1-year high of $187.47. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 1.43.

Whirlpool (NYSE:WHR) last issued its quarterly earnings results on Monday, July 23rd. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.63 by ($0.43). The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.29 billion. Whirlpool had a positive return on equity of 20.73% and a negative net margin of 2.62%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.35 EPS. Equities research analysts anticipate that Whirlpool will post 14.2 earnings per share for the current fiscal year.

In other news, Director Diane M. Dietz bought 1,600 shares of Whirlpool stock in a transaction that occurred on Thursday, July 26th. The shares were purchased at an average price of $124.26 per share, with a total value of $198,816.00. Following the completion of the acquisition, the director now directly owns 8,339 shares in the company, valued at $1,036,204.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Assetmark Inc. increased its stake in Whirlpool by 88.1% in the first quarter. Assetmark Inc. now owns 713 shares of the company’s stock valued at $109,000 after purchasing an additional 334 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Whirlpool in the second quarter valued at approximately $111,000. FNY Investment Advisers LLC purchased a new position in Whirlpool in the second quarter valued at approximately $123,000. Norway Savings Bank purchased a new position in Whirlpool in the second quarter valued at approximately $132,000. Finally, Ostrum Asset Management purchased a new position in Whirlpool in the first quarter valued at approximately $192,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products. It operates through four segments: North America; Europe, Middle East and Africa; Latin America; and Asia. The company's principal products include laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other small domestic appliances.

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