Mohawk Industries (NYSE:MHK) Price Target Cut to $115.00 by Analysts at Barclays

Mohawk Industries (NYSE:MHK) had its price objective trimmed by Barclays from $125.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms also recently commented on MHK. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price target on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.36.

Mohawk Industries Price Performance

Shares of MHK opened at $98.72 on Tuesday. The firm has a market capitalization of $6.18 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company’s fifty day moving average price is $115.68 and its 200-day moving average price is $129.64. Mohawk Industries has a 1-year low of $97.34 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that Mohawk Industries will post 9.8 EPS for the current year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently modified their holdings of MHK. Vanguard Group Inc. lifted its stake in shares of Mohawk Industries by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after buying an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after acquiring an additional 191,077 shares during the last quarter. State Street Corp lifted its stake 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after purchasing an additional 241,448 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after purchasing an additional 354,656 shares in the last quarter. Hedge funds and other 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.