Robert W. Baird Cuts Mohawk Industries (NYSE:MHK) Price Target to $152.00

Mohawk Industries (NYSE:MHK) had its price objective reduced by Robert W. Baird from $160.00 to $152.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $161.00 in a research note on Friday, January 10th. Finally, Truist Financial dropped their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $116.77 on Monday. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm’s 50-day simple moving average is $123.32 and its 200 day simple moving average is $140.07. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.37 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. Equities analysts expect that Mohawk Industries will post 10.71 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now owns 2,453 shares of the company’s stock, valued at $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 available through this hyperlink. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently made changes to their positions in MHK. Creative Planning lifted its holdings in shares of Mohawk Industries by 7.6% during the 2nd quarter. Creative Planning now owns 2,914 shares of the company’s stock valued at $331,000 after buying an additional 207 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Mohawk Industries during the 2nd quarter valued at about $371,000. CWM LLC lifted its holdings in shares of Mohawk Industries by 1,024.3% during the 3rd quarter. CWM LLC now owns 7,443 shares of the company’s stock valued at $1,196,000 after buying an additional 6,781 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Mohawk Industries during the 3rd quarter valued at about $976,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Mohawk Industries by 2,773.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company’s stock valued at $245,000 after buying an additional 1,470 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.