Evercore ISI Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK - Free Report) had its target price reduced by Evercore ISI from $150.00 to $140.00 in a research report report published on Monday morning,Benzinga reports. They currently have an in-line rating on the stock.

MHK has been the topic of a number of other research reports. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. Loop Capital reduced their price target on Mohawk Industries from $185.00 to $180.00 and set a "buy" rating on the stock in a report on Wednesday, December 4th. Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Wednesday, January 8th. Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of "Moderate Buy" and an average price target of $146.92.

Mohawk Industries Price Performance

Shares of MHK traded up $2.57 during mid-day trading on Monday, reaching $119.32. The company had a trading volume of 353,200 shares, compared to its average volume of 822,052. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company's 50 day simple moving average is $123.32 and its 200 day simple moving average is $140.07. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating 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%. Analysts expect that Mohawk Industries will post 10.71 EPS for the current year.

Insiders Place Their Bets

In other Mohawk Industries 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 transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. Company insiders own 17.10% of the company's stock.

Institutional Trading of Mohawk Industries

Several hedge funds have recently modified their holdings of MHK. Meeder Asset Management Inc. grew its holdings in Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company's stock worth $13,583,000 after purchasing an additional 6,863 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after buying an additional 74,123 shares during the period. Natixis Advisors LLC increased its position in Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company's stock valued at $14,056,000 after buying an additional 14,480 shares in the last quarter. Pacer Advisors Inc. increased its position in Mohawk Industries by 106.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company's stock valued at $984,000 after buying an additional 4,264 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Mohawk Industries during the 3rd quarter worth approximately $1,935,000. 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.