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 released on Friday morning.

Other analysts have also issued reports about the stock. Wolfe Research upgraded shares of 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. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Barclays decreased their price target on shares of Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.62.

Mohawk Industries Stock Performance

NYSE:MHK opened at $120.46 on Friday. Mohawk Industries has a fifty-two week low of $101.83 and a fifty-two week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a 50 day moving average price of $124.67 and a 200 day moving average price of $140.52. The stock has a market capitalization of $7.60 billion, a P/E ratio of 13.64, a PEG 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 8.05% and a net margin of 5.22%. Equities research analysts forecast that Mohawk Industries will post 9.64 EPS for the current year.

Insiders Place Their Bets

In other 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the stock. Creative Planning boosted its position in shares of Mohawk Industries by 7.6% in the 2nd quarter. Creative Planning now owns 2,914 shares of the company’s stock valued at $331,000 after purchasing an additional 207 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Mohawk Industries in the second quarter valued at approximately $371,000. Czech National Bank grew its position in shares of Mohawk Industries by 5.7% during the third quarter. Czech National Bank now owns 10,671 shares of the company’s stock worth $1,715,000 after acquiring an additional 571 shares during the last quarter. CWM LLC increased its holdings in shares of Mohawk Industries by 1,024.3% in the 3rd quarter. CWM LLC now owns 7,443 shares of the company’s stock valued at $1,196,000 after acquiring an additional 6,781 shares during the period. Finally, Wedmont Private Capital raised its position in Mohawk Industries by 8.3% in the 3rd quarter. Wedmont Private Capital now owns 2,483 shares of the company’s stock valued at $385,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds 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.