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

StockNews.com lowered shares of Mohawk Industries (NYSE:MHK - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

MHK has been the topic of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Bank of America lowered their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Loop Capital dropped their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Finally, Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.92.

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Mohawk Industries Stock Down 0.4 %

MHK stock traded down $0.45 during midday trading on Friday, hitting $116.05. The stock had a trading volume of 726,551 shares, compared to its average volume of 701,649. The business has a 50-day moving average of $119.81 and a two-hundred day moving average of $132.88. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries has a 52-week low of $104.88 and a 52-week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, equities research analysts forecast that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Mohawk Industries

A number of institutional investors have recently made changes to their positions in MHK. Oppenheimer & Co. Inc. bought a new position in Mohawk Industries during the 3rd quarter valued at $230,000. Quest Partners LLC boosted its position in shares of Mohawk Industries by 1,582.3% during the 3rd quarter. Quest Partners LLC now owns 4,946 shares of the company's stock valued at $795,000 after purchasing an additional 4,652 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Mohawk Industries by 22.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company's stock worth $1,509,000 after purchasing an additional 1,731 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in Mohawk Industries by 6.2% in the third quarter. Landscape Capital Management L.L.C. now owns 13,674 shares of the company's stock worth $2,197,000 after buying an additional 795 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised 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 purchasing an additional 254,779 shares during the period. 78.98% of the stock is 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.