Mohawk Industries (NYSE:MHK) Lowered to “Hold” Rating by StockNews.com

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

MHK has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group reduced 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. Finally, Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Performance

MHK traded down $2.52 during trading on Friday, hitting $111.75. The stock had a trading volume of 1,696,241 shares, compared to its average volume of 698,991. The firm has a market cap of $6.99 billion, a PE ratio of 13.75, a P/E/G ratio of 1.44 and a beta of 1.44. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $120.12 and a 200-day simple moving average of $133.57.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (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 8.04%. Analysts expect that Mohawk Industries will post 9.8 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Mohawk Industries

A number of large investors have recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries in the third quarter valued at $36,000. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the fourth quarter valued at $41,000. Wilmington Savings Fund Society FSB acquired a new stake in Mohawk Industries in the third quarter valued at $55,000. True Wealth Design LLC acquired a new stake in Mohawk Industries in the third quarter valued at $61,000. Finally, Versant Capital Management Inc lifted its stake in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.