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

Mohawk Industries (NYSE:MHK) had its target price lowered by Barclays from $141.00 to $130.00 in a report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Loop Capital reduced their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $161.00 in a research note on Friday, January 10th. Finally, StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $155.00.

Mohawk Industries Stock Up 0.5 %

NYSE:MHK opened at $129.31 on Thursday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. Mohawk Industries has a 52 week low of $96.28 and a 52 week high of $164.29. The stock’s fifty day moving average is $128.74 and its two-hundred day moving average is $140.14.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 over the last 90 days. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently made changes to their positions in MHK. Quest Partners LLC grew its position in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the 3rd quarter worth $36,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries in the third quarter valued at $55,000. Blue Trust Inc. raised its holdings in shares of Mohawk Industries by 85.6% in the third 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 last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Mohawk Industries during the third quarter worth about $61,000. 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.