Mohawk Industries (NYSE:MHK) Price Target Lowered to $130.00 at Barclays

Mohawk Industries (NYSE:MHK) had its price objective lowered by equities researchers at Barclays from $141.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 1.61% from the stock’s previous close.

A number of other research firms also recently issued reports on MHK. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company cut their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Jefferies Financial Group upped their price objective on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $2.12 during midday trading on Thursday, hitting $127.94. 114,460 shares of the stock traded hands, compared to its average volume of 640,908. The firm has a market capitalization of $8.08 billion, a P/E ratio of 14.49, a PEG ratio of 1.15 and a beta of 1.41. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The firm has a 50-day moving average of $129.39 and a two-hundred day moving average of $139.88.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the transaction, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several hedge funds have recently modified their holdings of the company. Polianta Ltd increased its position in Mohawk Industries by 23.0% in the fourth quarter. Polianta Ltd now owns 9,100 shares of the company’s stock worth $1,084,000 after purchasing an additional 1,700 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Mohawk Industries by 15.1% in the 4th quarter. Ritholtz Wealth Management now owns 6,987 shares of the company’s stock worth $832,000 after buying an additional 915 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Mohawk Industries by 2.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after buying an additional 121 shares during the last quarter. Oak Thistle LLC raised its position in shares of Mohawk Industries by 50.8% during the 4th quarter. Oak Thistle LLC now owns 8,848 shares of the company’s stock valued at $1,054,000 after buying an additional 2,979 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Mohawk Industries by 38.1% in the 4th quarter. 180 Wealth Advisors LLC now owns 3,494 shares of the company’s stock valued at $416,000 after acquiring an additional 964 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.