Loop Capital Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its target price lowered by research analysts at Loop Capital from $185.00 to $180.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price objective suggests a potential upside of 37.17% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group raised their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays decreased their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Truist Financial decreased their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Mohawk Industries Price Performance

NYSE:MHK opened at $131.22 on Wednesday. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.50 and a beta of 1.38. Mohawk Industries has a 1 year low of $90.22 and a 1 year high of $164.29. The business has a 50 day simple moving average of $146.49 and a 200-day simple moving average of $138.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quest Partners LLC increased its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Mohawk Industries during the 3rd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in Mohawk Industries during the 2nd quarter valued at about $50,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. increased its position in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares in the last quarter. 78.98% of the stock is owned by 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.