Mohawk Industries (NYSE:MHK) Price Target Lowered to $155.00 at Loop Capital

Mohawk Industries (NYSE:MHK) had its price target trimmed by Loop Capital from $180.00 to $155.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on MHK. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America lowered their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Price Performance

Shares of MHK opened at $117.73 on Monday. The company has a 50 day moving average price of $123.93 and a 200-day moving average price of $140.53. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The stock has a market capitalization of $7.43 billion, a PE ratio of 14.48, a PEG ratio of 1.60 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.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping 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%. Equities analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 19,078 shares of company stock worth $2,474,347 over the last 90 days. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

Hedge funds have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the third quarter worth about $36,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries in the 3rd quarter worth about $55,000. Blue Trust Inc. boosted its position in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares in the last quarter. True Wealth Design LLC acquired a new stake in Mohawk Industries in the third quarter valued at approximately $61,000. Finally, Versant Capital Management Inc increased its position in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after buying an additional 223 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.