Mohawk Industries (NYSE:MHK) Stock Rating Lowered by StockNews.com

Mohawk Industries (NYSE:MHK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities analysts have also recently weighed in on MHK. Barclays reduced their price target on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group reduced their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial reduced their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Royal Bank of Canada reduced their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.

Mohawk Industries Price Performance

NYSE MHK traded down $1.51 during trading hours on Friday, reaching $120.46. The company’s stock had a trading volume of 1,736,715 shares, compared to its average volume of 817,013. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 13.64, a P/E/G 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 company’s 50-day moving average is $124.67 and its two-hundred day moving average is $140.52.

Mohawk Industries (NYSE:MHK) last released its quarterly 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 8.05% and a net margin of 5.22%. On average, equities analysts predict that Mohawk Industries will post 9.64 EPS for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 19,078 shares of company stock worth $2,474,347 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. FMR LLC grew its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the period. State Street Corp boosted its position in shares of Mohawk Industries by 1.3% during the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after buying an additional 23,016 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Mohawk Industries by 33.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after buying an additional 254,779 shares during the period. Finally, Truist Financial Corp boosted its position in shares of Mohawk Industries by 7.4% during the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock worth $44,609,000 after buying an additional 25,864 shares during the period. 78.98% of the stock is currently 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.