Mohawk Industries (NYSE:MHK) Price Target Lowered to $125.00 at Barclays

Mohawk Industries (NYSE:MHK) had its price target lowered by research analysts at Barclays from $130.00 to $125.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 4.76% from the company’s previous close.

Several other research analysts have also weighed in on the company. Royal Bank of Canada lowered their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company reduced their price objective 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, February 4th. 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. The Goldman Sachs Group reduced their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Bank of America cut their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Mohawk Industries Stock Up 1.6 %

Shares of NYSE MHK opened at $119.32 on Monday. The stock has a 50-day moving average price of $123.61 and a two-hundred day moving average price of $140.24. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate 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, analysts forecast that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 19,078 shares of company stock valued at $2,474,347 over the last three months. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after purchasing an additional 6,863 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the last quarter. Natixis Advisors LLC grew its holdings in Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock valued at $14,056,000 after buying an additional 14,480 shares in the last quarter. Cerity Partners LLC bought a new stake in Mohawk Industries during the third quarter worth approximately $1,935,000. Finally, Pacer Advisors Inc. raised its position in Mohawk Industries by 106.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock worth $984,000 after purchasing an additional 4,264 shares during the period. 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.