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

StockNews.com downgraded shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other analysts also recently weighed in on the company. Loop Capital cut their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Barclays reduced their price objective on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial lowered their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their price objective 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. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $159.17.

Mohawk Industries Stock Performance

MHK opened at $119.10 on Wednesday. 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’s 50 day moving average is $140.65 and its 200-day moving average is $138.99. The stock has a market cap of $7.52 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29.

Insider Transactions at Mohawk Industries

In other Mohawk Industries 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 19,078 shares of company stock valued at $2,474,347 in the last three months. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries during the 3rd quarter valued at $36,000. Headlands Technologies LLC purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at $50,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries in the third quarter worth $55,000. Finally, Blue Trust Inc. boosted its position in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other 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.