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

Mohawk Industries (NYSE:MHK) had its target price decreased by stock analysts at Barclays from $141.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 0.54% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. The Goldman Sachs Group cut their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Finally, 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 report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $129.31 on Thursday. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The company has a market cap of $8.16 billion, a PE ratio of 14.64, a P/E/G ratio of 1.15 and a beta of 1.41. 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 business has a 50-day simple moving average of $128.74 and a two-hundred day simple moving average of $139.94.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares in the last quarter. FMR LLC raised its holdings in Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp raised its holdings in Mohawk Industries by 1.3% in the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the period. Select Equity Group L.P. boosted its position in Mohawk Industries by 8.5% during the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after purchasing an additional 132,879 shares in the last quarter. Finally, Pacer Advisors Inc. grew 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 valued at $136,349,000 after purchasing an additional 360,628 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.