Wells Fargo & Company Lowers Mohawk Industries (NYSE:MHK) Price Target to $135.00

Mohawk Industries (NYSE:MHK) had its price objective decreased by equities research analysts at Wells Fargo & Company from $140.00 to $135.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 13.35% from the company’s current price.

MHK has been the topic of several other research reports. Royal Bank of Canada dropped their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Jefferies Financial Group increased their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. 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. Finally, Truist Financial cut their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $159.17.

Mohawk Industries Price Performance

MHK opened at $119.10 on Tuesday. The business has a fifty day moving average of $141.45 and a 200 day moving average of $139.13. The stock has a market cap of $7.52 billion, a P/E ratio of 13.49, a PEG ratio of 1.45 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the sale, the insider now owns 2,453 shares in the company, valued at $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 19,078 shares of company stock valued at $2,474,347. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Mohawk Industries by 4.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,573 shares of the company’s stock valued at $1,315,000 after acquiring an additional 493 shares in the last quarter. Fifth Third Bancorp boosted its stake in Mohawk Industries by 7.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in Mohawk Industries by 11.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 667,516 shares of the company’s stock worth $75,823,000 after purchasing an additional 67,452 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Mohawk Industries by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 311,268 shares of the company’s stock worth $35,357,000 after buying an additional 7,194 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after buying an additional 100 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.