Mohawk Industries (NYSE:MHK) PT Lowered to $135.00

Mohawk Industries (NYSE:MHK) had its price target dropped by analysts at Loop Capital from $140.00 to $135.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 17.07% from the company’s previous close.

A number of other analysts have also recently commented on MHK. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $98.00 to $152.00 in a report on Monday, February 12th. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.00.

Mohawk Industries Stock Down 2.6 %

Shares of Mohawk Industries stock opened at $115.32 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $118.95 and its two-hundred day simple moving average is $103.88. The company has a market cap of $7.35 billion, a P/E ratio of -17.63 and a beta of 1.34. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the business posted $1.75 EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Research analysts anticipate that Mohawk Industries will post 9.56 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Mohawk Industries by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after acquiring an additional 105 shares during the period. Treasurer of the State of North Carolina lifted its stake in Mohawk Industries by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock valued at $1,993,000 after acquiring an additional 120 shares during the period. Signaturefd LLC increased its position in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after purchasing an additional 128 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock valued at $698,000 after purchasing an additional 136 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the last quarter. 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.