Loop Capital Cuts Mohawk Industries (NYSE:MHK) Price Target to $155.00

Mohawk Industries (NYSE:MHK) had its price target cut by Loop Capital from $180.00 to $155.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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 report on Monday, October 28th. Raymond James reissued a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday. Finally, Robert W. Baird lowered their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Trading Down 2.1 %

Shares of MHK opened at $116.77 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29. The stock’s 50-day moving average is $123.32 and its two-hundred day moving average is $140.07. The stock has a market cap of $7.37 billion, a PE ratio of 14.36, a P/E/G ratio of 1.60 and a beta of 1.41.

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

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 19,078 shares of company stock worth $2,474,347. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after buying an additional 20,327 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock worth $383,076,000 after buying an additional 191,077 shares during the period. FMR LLC lifted its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp lifted its position in Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after purchasing an additional 354,656 shares during the period. 78.98% of the stock is currently 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.