Mohawk Industries (NYSE:MHK) Rating Lowered to “Hold” at StockNews.com

Mohawk Industries (NYSE:MHK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research firms also recently commented on MHK. Loop Capital decreased their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. 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. Wells Fargo & Company cut their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday. Jefferies Financial Group upped 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. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.17.

Mohawk Industries Stock Down 1.9 %

Shares of Mohawk Industries stock opened at $116.82 on Wednesday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.45 and a beta of 1.38. The stock has a 50-day simple moving average of $140.65 and a 200-day simple moving average of $138.99. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

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