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

StockNews.com downgraded shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a report issued on Friday morning.

Several other brokerages have also issued reports on MHK. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research report on Wednesday, January 8th. Truist Financial lowered their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $151.00 to $161.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Mohawk Industries Price Performance

Shares of MHK opened at $120.46 on Friday. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. Mohawk Industries has a 1 year low of $101.83 and a 1 year 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. The business has a 50-day moving average of $124.30 and a 200-day moving average of $140.65.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, equities research analysts anticipate that Mohawk Industries will post 10.71 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The stock was 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 accessible through this hyperlink. Over the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its position in shares of Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after acquiring an additional 76 shares during the period. Allworth Financial LP boosted its holdings in Mohawk Industries by 20.6% in the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after purchasing an additional 107 shares during the period. Hantz Financial Services Inc. grew its position in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after buying an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Mohawk Industries by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares during the period. 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.