StockNews.com Downgrades Mohawk Industries (NYSE:MHK) to Hold

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

A number of other analysts also recently weighed in on the stock. Barclays cut their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial lowered their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. 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. Finally, Loop Capital dropped their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $111.75 on Friday. The company has a 50-day simple moving average of $120.12 and a two-hundred day simple moving average of $133.45. Mohawk Industries has a twelve month low of $104.88 and a twelve month high of $164.29. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Analysts forecast that Mohawk Industries will post 9.8 EPS for the current year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 111 Capital bought a new stake in shares of Mohawk Industries in the 4th quarter valued at $380,000. QSM Asset Management Ltd bought a new stake in Mohawk Industries during the fourth quarter valued at $6,002,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Mohawk Industries during the 4th quarter worth about $1,564,000. Jefferies Financial Group Inc. bought a new position in shares of Mohawk Industries in the 4th quarter worth about $799,000. Finally, Forum Financial Management LP acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $273,000. Institutional investors and hedge funds 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.