Mohawk Industries (NYSE:MHK) Price Target Cut to $134.00

Mohawk Industries (NYSE:MHK - Get Free Report) had its price objective reduced by analysts at Royal Bank of Canada from $140.00 to $134.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 1.74% from the stock's previous close.

MHK has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Baird R W raised shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Wells Fargo & Company upgraded shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Barclays lowered their price objective on Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating on the stock in a research report on Monday. Five research 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.08.

Mohawk Industries Stock Performance

NYSE:MHK traded up $0.83 during trading hours on Monday, reaching $131.71. The stock had a trading volume of 1,542,614 shares, compared to its average volume of 713,959. The stock has a market cap of $8.41 billion, a P/E ratio of -20.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. The stock has a 50 day simple moving average of $154.55 and a 200 day simple moving average of $133.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. Mohawk Industries has a 12-month low of $76.35 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 EPS. On average, research analysts forecast that Mohawk Industries will post 9.98 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now owns 118,709 shares of the company's stock, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company's stock, valued at approximately $18,042,624.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 660 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,660 shares of company stock worth $550,488. 17.10% of the stock is currently owned by insiders.

Institutional Trading of Mohawk Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in Mohawk Industries by 12.5% in the 3rd quarter. Signaturefd LLC now owns 683 shares of the company's stock worth $110,000 after buying an additional 76 shares during the period. Quest Partners LLC raised its holdings in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Mohawk Industries by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company's stock valued at $1,430,000 after purchasing an additional 98 shares in the last quarter. State of Michigan Retirement System raised its stake in Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company's stock worth $1,652,000 after buying an additional 100 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company's stock worth $65,000 after buying an additional 106 shares during the period. 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.