Mohawk Industries (NYSE:MHK) Cut to Hold at StockNews.com

StockNews.com lowered shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a research report released on Friday.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays lowered their target price on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. 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. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $161.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.62.

Mohawk Industries Stock Performance

NYSE:MHK opened at $120.46 on Friday. Mohawk Industries has a 1-year low of $101.83 and a 1-year high of $164.29. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The firm’s fifty day moving average price is $124.67 and its 200 day moving average price is $140.52.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.05% and a net margin of 5.22%. On average, sell-side analysts expect that Mohawk Industries will post 9.64 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 19,078 shares of company stock worth $2,474,347 over the last quarter. 17.10% of the stock is currently owned by insiders.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries in the third quarter worth approximately $36,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $55,000. Blue Trust Inc. grew its stake in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the period. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries during the 3rd quarter valued at $61,000. Finally, Versant Capital Management Inc increased its holdings in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.