Wells Fargo & Company Lowers Mohawk Industries (NYSE:MHK) Price Target to $135.00

Mohawk Industries (NYSE:MHK - Get Free Report) had its price target reduced by equities researchers at Wells Fargo & Company from $140.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 8.26% from the company's previous close.

Several other research firms have also issued reports on MHK. Barclays lowered their target price on shares of Mohawk Industries from $146.00 to $141.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Baird R W raised shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Royal Bank of Canada dropped their target price on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating on the stock in a research report on Monday, October 28th. Truist Financial cut their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Five investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.17.

Mohawk Industries Trading Down 1.6 %

MHK stock traded down $2.01 during trading on Tuesday, reaching $124.70. The company had a trading volume of 481,591 shares, compared to its average volume of 717,112. Mohawk Industries has a 52 week low of $96.28 and a 52 week high of $164.29. The company has a market cap of $7.87 billion, a P/E ratio of 14.12, a PEG ratio of 1.45 and a beta of 1.38. The business has a 50 day moving average of $142.06 and a 200 day moving average of $139.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 over the last 90 days. 17.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries in the second quarter valued at approximately $85,997,000. FMR LLC grew its stake in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock worth $350,204,000 after buying an additional 748,070 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock valued at $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company's stock worth $344,903,000 after buying an additional 292,661 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Mohawk Industries by 1,464.0% in the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock worth $25,825,000 after acquiring an additional 212,820 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.