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Mohawk Industries (NYSE:MHK) Cut to Hold at StockNews.com

Mohawk Industries logo with Consumer Discretionary background

Mohawk Industries (NYSE:MHK - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

MHK has been the subject of a number of other reports. 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 report on Monday, October 28th. Loop Capital decreased their target price on Mohawk Industries from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday, December 4th. Baird R W raised Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Robert W. Baird raised Mohawk Industries from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Finally, Truist Financial dropped their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.17.

Check Out Our Latest Research Report on MHK

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $5.60 during trading hours on Wednesday, hitting $119.10. 553,261 shares of the stock were exchanged, compared to its average volume of 716,442. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The company's 50 day moving average is $141.45 and its 200 day moving average is $139.13. 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 firm has a market capitalization of $7.52 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.45 and a beta of 1.38.

Insider Activity

In related 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MHK. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries during the third quarter worth approximately $36,000. Quest Partners LLC raised its position in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the 3rd quarter valued at $55,000. Blue Trust Inc. raised its position in Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in Mohawk Industries in the third quarter worth $61,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

About Mohawk Industries

(Get Free Report)

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.

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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