Mohawk Industries (NYSE:MHK - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.
Several other brokerages have also recently issued reports on MHK. JPMorgan Chase & Co. raised shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $151.00 to $161.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their target price 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. The Goldman Sachs Group reduced their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Robert W. Baird raised 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 report on Monday, October 21st. Finally, Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $147.29.
View Our Latest Analysis on MHK
Mohawk Industries Trading Up 1.3 %
MHK stock traded up $1.56 during mid-day trading on Friday, reaching $119.03. The company had a trading volume of 440,943 shares, compared to its average volume of 822,059. 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 company has a market capitalization of $7.51 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The firm has a 50 day moving average of $123.93 and a 200 day moving average of $140.53. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29.
Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data 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 8.00%. On average, equities analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.
Insider Buying and Selling at Mohawk Industries
In related news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares of the company's stock, valued at $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its position in Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company's stock worth $13,583,000 after purchasing an additional 6,863 shares during the last quarter. JPMorgan Chase & Co. grew its position in Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock worth $485,983,000 after purchasing an additional 74,123 shares during the last quarter. Natixis Advisors LLC grew its position in Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company's stock worth $14,056,000 after purchasing an additional 14,480 shares during the last quarter. Cerity Partners LLC purchased a new position in Mohawk Industries during the 3rd quarter worth $1,935,000. Finally, Pacer Advisors Inc. grew its position in Mohawk Industries by 106.7% during the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company's stock worth $984,000 after purchasing an additional 4,264 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.
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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