Loop Capital Cuts Mohawk Industries (NYSE:MHK) Price Target to $155.00

Mohawk Industries (NYSE:MHK) had its target price trimmed by Loop Capital from $180.00 to $155.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barclays cut their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group cut their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their target price 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. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Performance

MHK opened at $116.77 on Monday. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29. The business has a 50 day moving average price of $123.32 and a two-hundred day moving average price of $140.07.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data 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%. Research analysts predict that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after acquiring an additional 76 shares during the last quarter. Allworth Financial LP increased its stake in shares of Mohawk Industries by 20.6% in the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after acquiring an additional 107 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after acquiring an additional 115 shares during the last quarter. Huntington National Bank increased its stake in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its stake in shares of Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after acquiring an additional 121 shares during the last quarter. 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.