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 report published on Friday morning.

Several other brokerages have also issued reports on MHK. The Goldman Sachs Group cut their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Finally, Robert W. Baird cut their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Six 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. According to MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $111.75 on Friday. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a 50-day simple moving average of $120.12 and a 200 day simple moving average of $133.33. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, sell-side analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds have recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries in the 3rd quarter worth about $36,000. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the 3rd quarter valued at approximately $55,000. True Wealth Design LLC bought a new position in shares of Mohawk Industries during the 3rd quarter valued at approximately $61,000. Finally, Versant Capital Management Inc grew its stake in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 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.