Evercore ISI Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price target lowered by investment analysts at Evercore ISI from $150.00 to $140.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 18.13% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company reduced 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 note on Tuesday, February 4th. Finally, Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Price Performance

Shares of MHK stock traded down $1.81 during trading hours on Monday, hitting $118.52. 254,397 shares of the company’s stock were exchanged, compared to its average volume of 793,513. The firm has a market cap of $7.48 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.60 and a beta of 1.41. The firm has a 50 day moving average of $124.30 and a two-hundred day moving average of $140.65. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Sell-side analysts forecast that Mohawk Industries will post 10.71 EPS for the current year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of Mohawk Industries by 8.8% during the third 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. lifted its holdings in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after buying an additional 74,123 shares during the period. Natixis Advisors LLC grew its holdings in Mohawk Industries by 19.8% during the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after acquiring an additional 14,480 shares during the period. Cerity Partners LLC purchased a new position in Mohawk Industries in the third quarter worth $1,935,000. Finally, Pacer Advisors Inc. lifted its holdings in Mohawk Industries by 106.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock valued at $984,000 after acquiring an additional 4,264 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

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.