Mohawk Industries (NYSE:MHK) Downgraded by StockNews.com to “Hold”

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

MHK has been the subject of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Wednesday, January 8th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, Barclays reduced their price target on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.

Mohawk Industries Stock Down 1.2 %

Shares of NYSE:MHK opened at $120.46 on Friday. The firm has a market capitalization of $7.60 billion, a PE ratio of 14.82, 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 quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52-week low of $101.83 and a 52-week high of $164.29. The firm has a fifty day moving average of $124.30 and a 200 day moving average of $140.65.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data 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 8.00% and a net margin of 4.78%. As a group, research analysts anticipate that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries during the third quarter valued at $55,000. Blue Trust Inc. boosted its holdings in Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after acquiring an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries in the third quarter worth $61,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Mohawk Industries during the third quarter valued at $73,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

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.