Loop Capital Has Lowered Expectations for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price target decreased by research analysts at Loop Capital from $180.00 to $155.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 30.75% from the stock’s current price.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada lowered their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Barclays lowered their price objective on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday. Raymond James reiterated a “strong-buy” rating and set a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday. Finally, Wells Fargo & Company decreased 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 research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Stock Performance

NYSE MHK traded down $1.79 during trading hours on Monday, reaching $118.55. The company’s stock had a trading volume of 343,709 shares, compared to its average volume of 797,745. 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 business has a 50-day simple moving average of $124.30 and a 200 day simple moving average of $140.65. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The stock has a market cap of $7.48 billion, a PE ratio of 14.57, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (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%. Equities research 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 other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings in Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares during the period. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. Natixis Advisors LLC increased its holdings in shares of 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 period. Cerity Partners LLC bought a new position in shares of Mohawk Industries during the 3rd quarter worth about $1,935,000. Finally, Pacer Advisors Inc. increased its holdings in shares of 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 period. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.