Mohawk Industries (NYSE:MHK) Stock Price Down 3.6%

Mohawk Industries, Inc. (NYSE:MHK)’s share price traded down 3.6% during trading on Tuesday . The company traded as low as $108.63 and last traded at $108.71. 57,768 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 668,136 shares. The stock had previously closed at $112.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada lifted their price objective on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research note on Monday, June 10th. Finally, Loop Capital lowered their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.20.

Mohawk Industries Stock Up 0.4 %

The company has a fifty day moving average price of $115.60 and a 200 day moving average price of $113.03. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the sale, the insider now owns 122,369 shares in the company, valued at $13,673,512.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the stock. Quarry LP grew its holdings in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after buying an additional 174 shares in the last quarter. Allworth Financial LP grew its holdings in Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC grew its holdings in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after buying an additional 128 shares in the last quarter. Quent Capital LLC grew its holdings in Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after buying an additional 106 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after buying an additional 650 shares in the last quarter. 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.