Mohawk Industries (NYSE:MHK) Shares Gap Down – Should You Sell?

Mohawk Industries, Inc. (NYSE:MHK) gapped down before the market opened on Friday . The stock had previously closed at $130.83, but opened at $127.01. Mohawk Industries shares last traded at $124.46, with a volume of 243,344 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MHK shares. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Barclays cut their price target 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. The Goldman Sachs Group decreased their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Finally, Wells Fargo & Company reduced their price target 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. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.00.

Mohawk Industries Stock Performance

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 company’s fifty day moving average price is $127.49 and its 200 day moving average price is $140.82. The company has a market cap of $7.92 billion, a PE ratio of 14.20, a P/E/G ratio of 1.27 and a beta of 1.41.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MHK. JPMorgan Chase & Co. boosted its holdings in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after buying an additional 74,123 shares during the last quarter. FMR LLC boosted its stake in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after acquiring an additional 748,070 shares during the last quarter. State Street Corp grew its position in shares of Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after acquiring an additional 23,016 shares during the period. Brandes Investment Partners LP increased its stake in shares of Mohawk Industries by 10.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after purchasing an additional 96,174 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Mohawk Industries by 33.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after purchasing an additional 254,779 shares during the period. 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.