Mohawk Industries (NYSE:MHK) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a research note published on Wednesday.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Barclays reduced their price target on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group lowered their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Loop Capital lowered their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Mohawk Industries Stock Down 2.1 %

Shares of NYSE:MHK opened at $105.55 on Wednesday. Mohawk Industries has a 1-year low of $100.56 and a 1-year high of $164.29. The company’s fifty day moving average is $117.26 and its two-hundred day moving average is $131.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Equities analysts anticipate that Mohawk Industries will post 9.8 EPS for the current year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently bought and sold shares of MHK. Magnetar Financial LLC raised its stake in shares of Mohawk Industries by 353.1% in the 4th quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock valued at $4,659,000 after acquiring an additional 30,477 shares in the last quarter. Choreo LLC acquired a new position in Mohawk Industries during the 4th quarter worth $258,000. Sei Investments Co. boosted its stake in Mohawk Industries by 46.3% during the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company’s stock valued at $10,911,000 after purchasing an additional 28,998 shares during the period. Townsend & Associates Inc increased its position in Mohawk Industries by 1.2% in the 4th quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after buying an additional 3,078 shares during the period. Finally, Sciencast Management LP lifted its holdings in shares of Mohawk Industries by 59.1% during the fourth quarter. Sciencast Management LP now owns 6,088 shares of the company’s stock worth $725,000 after buying an additional 2,262 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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.