Mohawk Industries (NYSE:MHK) Price Target Lowered to $152.00 at Robert W. Baird

Mohawk Industries (NYSE:MHK - Free Report) had its target price cut by Robert W. Baird from $160.00 to $152.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on MHK. Barclays lowered their target price on shares of Mohawk Industries from $141.00 to $130.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Baird R W upgraded shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. The Goldman Sachs Group reduced their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, Wolfe Research upgraded shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Wednesday, January 8th. Six 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.92.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded up $3.03 during mid-day trading on Monday, reaching $119.78. The company had a trading volume of 655,491 shares, compared to its average volume of 833,465. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.60 and a beta of 1.41. The company's 50-day moving average price is $123.32 and its 200-day moving average price is $140.07. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. As a group, equities research analysts anticipate that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 over the last three months. Company insiders own 17.10% of the company's stock.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake 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 buying an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after buying an additional 74,123 shares in the last quarter. Natixis Advisors LLC raised its stake in Mohawk Industries by 19.8% in the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company's stock worth $14,056,000 after buying an additional 14,480 shares in the last quarter. Pacer Advisors Inc. raised its stake in Mohawk Industries by 106.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company's stock worth $984,000 after buying an additional 4,264 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in Mohawk Industries in the third quarter worth about $1,935,000. 78.98% of the stock is owned by 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.