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

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

Other equities research analysts have also recently issued research reports about the stock. Loop Capital cut their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Raymond James restated a "strong-buy" rating and set a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, Robert W. Baird decreased their price target 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. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average target price of $145.07.

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Mohawk Industries Price Performance

MHK traded down $2.29 during trading on Wednesday, reaching $105.55. The stock had a trading volume of 981,113 shares, compared to its average volume of 730,561. The business has a 50-day moving average of $117.26 and a 200-day moving average of $130.67. Mohawk Industries has a one year low of $100.56 and a one year high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market cap of $6.61 billion, a PE ratio of 12.98, a PEG ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced 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 return on equity of 8.04% and a net margin of 4.78%. As a group, equities research analysts anticipate that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MHK. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Mohawk Industries by 15.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,307 shares of the company's stock worth $1,977,000 after buying an additional 1,685 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Mohawk Industries by 2.2% during the third quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company's stock valued at $1,473,000 after purchasing an additional 200 shares during the period. Captrust Financial Advisors grew its position in Mohawk Industries by 95.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,756 shares of the company's stock worth $764,000 after purchasing an additional 2,319 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Mohawk Industries by 36.6% during the 3rd quarter. HighTower Advisors LLC now owns 2,718 shares of the company's stock valued at $435,000 after buying an additional 728 shares during the period. Finally, Maven Securities LTD purchased a new position in shares of Mohawk Industries in the 3rd quarter worth $209,000. 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.