Whirlpool (NYSE:WHR) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Whirlpool Corporation (NYSE:WHR) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $32.12 and traded as high as $33.02. Whirlpool shares last traded at $32.6230, with a volume of 4,192,672 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings cut Whirlpool from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, October 28th. Mizuho reduced their price target on Whirlpool from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Zacks Research downgraded Whirlpool from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Wall Street Zen cut Whirlpool from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. Finally, Citigroup cut their price objective on Whirlpool from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Eight investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $32.22.

Whirlpool Stock Performance

The firm has a market cap of $2.14 billion, a PE ratio of -15.03 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.69 and a debt-to-equity ratio of 1.84. The firm’s 50 day simple moving average is $32.12 and its 200 day simple moving average is $48.07.

Whirlpool (NYSE:WHR) last issued its earnings results on Monday, October 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.94). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.93 billion. Whirlpool had a positive return on equity of 0.47% and a negative net margin of 0.93%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. On average, research analysts forecast that Whirlpool Corporation will post -1.36 EPS for the current fiscal year.

Institutional Trading of Whirlpool

Hedge funds have recently modified their holdings of the company. Kelleher Financial Advisors bought a new position in Whirlpool in the 2nd quarter valued at $28,000. Silvant Capital Management LLC purchased a new stake in Whirlpool in the second quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Whirlpool during the first quarter worth $46,000. Fortitude Family Office LLC bought a new stake in shares of Whirlpool during the third quarter worth $29,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Whirlpool by 317.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the company’s stock valued at $55,000 after purchasing an additional 774 shares during the period. 90.78% of the stock is owned by hedge funds and other institutional investors.

Whirlpool Company Profile

Whirlpool Corporation (NYSE: WHR) is a global manufacturer and marketer of home appliances. The company develops products designed for kitchens and laundry rooms, including refrigerators and freezers, cooking appliances, dishwashers, washing machines and dryers, and related household appliances.

Whirlpool sells products under a portfolio of well-known brands, including Whirlpool, Maytag, KitchenAid, JennAir and Amana. Its products are distributed through retailers, builders, distributors and other sales channels to residential customers in North America and international markets.

The company traces its history to 1911, when it was founded as the Upton Machine Company in Benton Harbor, Michigan.