Mohawk Industries (NYSE:MHK) Price Target Cut to $120.00

Mohawk Industries (NYSE:MHK) had its price target reduced by Barclays from $122.00 to $120.00 in a report published on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the company. Loop Capital dropped their target price on Mohawk Industries from $140.00 to $135.00 and set a buy rating on the stock in a report on Monday. The Goldman Sachs Group upped their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a research report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a hold rating to a buy rating and lifted their target price for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Finally, StockNews.com upgraded shares of Mohawk Industries from a hold rating to a buy rating in a research note on Saturday, February 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of Hold and a consensus target price of $121.00.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $114.87 on Monday. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $131.19. The firm has a market capitalization of $7.34 billion, a P/E ratio of -17.56 and a beta of 1.34. The business has a fifty day simple moving average of $118.97 and a two-hundred day simple moving average of $103.95. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities analysts forecast that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is available through this link. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Mohawk Industries

Several large investors have recently modified their holdings of MHK. Pacer Advisors Inc. lifted its holdings in Mohawk Industries by 1,152.0% in the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares during the period. Norges Bank bought a new position in shares of Mohawk Industries in the 4th quarter worth approximately $68,050,000. Dimensional Fund Advisors LP boosted its holdings in shares of Mohawk Industries by 14.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after buying an additional 317,278 shares during the last quarter. Paradice Investment Management LLC boosted its holdings in shares of Mohawk Industries by 52.4% in the third quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock worth $44,494,000 after buying an additional 178,310 shares during the last quarter. Finally, ARGA Investment Management LP grew its position in Mohawk Industries by 50.8% during the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after buying an additional 168,401 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.