Mohawk Industries (NYSE:MHK) Given New $130.00 Price Target at Barclays

Mohawk Industries (NYSE:MHK) had its target price dropped by analysts at Barclays from $141.00 to $130.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 1.61% from the company’s current price.

Several other research analysts have also issued reports on MHK. JPMorgan Chase & Co. upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $151.00 to $161.00 in a research report on Friday, January 10th. The Goldman Sachs Group dropped their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.00.

Mohawk Industries Trading Down 1.6 %

Shares of MHK traded down $2.12 during midday trading on Thursday, hitting $127.94. The stock had a trading volume of 114,460 shares, compared to its average volume of 640,908. Mohawk Industries has a 1 year low of $96.28 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 stock’s 50 day moving average is $129.39 and its 200 day moving average is $139.88. The firm has a market cap of $8.08 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the transaction, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its holdings in shares of Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after buying an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Mohawk Industries in the second quarter worth $1,253,000. Natixis Advisors LLC increased its position in shares of Mohawk Industries by 19.8% during the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after purchasing an additional 14,480 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Mohawk Industries by 36.9% during the 2nd quarter. Hsbc Holdings PLC now owns 68,876 shares of the company’s stock valued at $7,763,000 after purchasing an additional 18,562 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.