What’s Ahead for Whirlpool Corporation (WHR) After Forming Bearish Multiple Bottom Chart Pattern?

July 14, 2018 - By Elena Maslow

Whirlpool Corporation (NYSE:WHR) Logo

Investors sentiment decreased to 0.88 in Q1 2018. Its down 0.05, from 0.93 in 2017Q4. It dived, as 51 investors sold Whirlpool Corporation shares while 197 reduced holdings. 59 funds opened positions while 160 raised stakes. 59.81 million shares or 0.79% less from 60.28 million shares in 2017Q4 were reported.
91,240 were reported by State Board Of Administration Of Florida Retirement. Geode Cap Mgmt Lc owns 845,811 shares or 0.04% of their US portfolio. Johnson Grp Inc has 0% invested in Whirlpool Corporation (NYSE:WHR) for 4 shares. Point72 Asset Management Limited Partnership reported 0.01% stake. Lsv Asset reported 0.41% stake. Jefferies Limited Liability Company, New York-based fund reported 17,215 shares. Etrade Cap Mgmt Llc owns 13,555 shares. Services Automobile Association stated it has 0.04% in Whirlpool Corporation (NYSE:WHR). Winslow Evans And Crocker accumulated 372 shares. Shell Asset Management Co invested in 0.02% or 5,373 shares. Texas-based Adell Harriman Carpenter has invested 0% in Whirlpool Corporation (NYSE:WHR). Livforsakringsbolaget Skandia Omsesidigt has 0.06% invested in Whirlpool Corporation (NYSE:WHR) for 3,396 shares. Jacobs Levy Equity Mgmt owns 13,834 shares or 0.04% of their US portfolio. Axa invested in 0.08% or 125,691 shares. Davenport & Ltd holds 0% or 1,525 shares.

Since April 30, 2018, it had 0 insider buys, and 1 insider sale for $303,908 activity.

The stock of Whirlpool Corporation (WHR) shows a multiple bottoms pattern with $143.31 target or 8.00 % below today’s $155.77 share price. The 8 months chart pattern indicates high risk for the $10.05B company. It was reported on Jul, 14 by Finviz.com. If the $143.31 price target is reached, the company will be worth $804.08M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.31% or $0.48 during the last trading session, reaching $155.77. About 876,394 shares traded. Whirlpool Corporation (NYSE:WHR) has declined 16.26% since July 14, 2017 and is downtrending. It has underperformed by 28.83% the S&P500.

Analysts await Whirlpool Corporation (NYSE:WHR) to report earnings on July, 23 after the close. They expect $3.83 EPS, up 14.33 % or $0.48 from last year’s $3.35 per share. WHR’s profit will be $247.13M for 10.17 P/E if the $3.83 EPS becomes a reality. After $2.81 actual EPS reported by Whirlpool Corporation for the previous quarter, Wall Street now forecasts 36.30 % EPS growth.

Whirlpool Corporation (NYSE:WHR) Ratings Coverage

Among 8 analysts covering Whirlpool (NYSE:WHR), 4 have Buy rating, 1 Sell and 3 Hold. Therefore 50% are positive. Whirlpool has $18400 highest and $165 lowest target. $177.80’s average target is 14.14% above currents $155.77 stock price. Whirlpool had 9 analyst reports since January 26, 2018 according to SRatingsIntel. The company was maintained on Monday, April 23 by RBC Capital Markets. As per Monday, June 4, the company rating was upgraded by Credit Suisse. The stock has “Hold” rating by Bank of America on Monday, April 9. The rating was maintained by JP Morgan on Friday, June 1 with “Overweight”. The rating was downgraded by Goldman Sachs to “Sell” on Wednesday, April 4. The firm has “Neutral” rating by Credit Suisse given on Tuesday, April 24. The stock of Whirlpool Corporation (NYSE:WHR) earned “Sector Weight” rating by KeyBanc Capital Markets on Friday, January 26. The company was upgraded on Friday, January 26 by Raymond James.

Whirlpool Corporation manufactures and markets home appliances and related products worldwide. The company has market cap of $10.05 billion. The companyÂ’s principal products include laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other small domestic appliances. It has a 33.14 P/E ratio. It also produces hermetic compressors for refrigeration systems.

Whirlpool Corporation (NYSE:WHR) Institutional Positions Chart

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