Loop Capital Cuts Mohawk Industries (NYSE:MHK) Price Target to $180.00

Mohawk Industries (NYSE:MHK) had its price target trimmed by Loop Capital from $185.00 to $180.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on MHK. Truist Financial reduced their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group raised their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Royal Bank of Canada dropped their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Five equities research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $161.67.

Mohawk Industries Stock Performance

Shares of NYSE:MHK opened at $130.88 on Wednesday. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The company has a 50-day moving average price of $145.42 and a 200-day moving average price of $138.26. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12 month low of $90.79 and a 12 month high of $164.29.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors and hedge funds have recently modified their holdings of MHK. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at about $85,997,000. FMR LLC lifted its position in Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after purchasing an additional 748,070 shares during the period. Pacer Advisors Inc. boosted its holdings in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after purchasing an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 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.