Mohawk Industries (MHK) Cut to “Neutral” at Longbow Research

Longbow Research lowered shares of Mohawk Industries (NYSE:MHK) from a buy rating to a neutral rating in a research report released on Friday, March 29th, Benzinga reports. The firm currently has $125.98 target price on the stock.

MHK has been the subject of several other research reports. Zacks Investment Research upgraded shares of Mohawk Industries from a sell rating to a hold rating in a research note on Thursday, February 14th. Loop Capital increased their price target on shares of Mohawk Industries to $126.00 and gave the company an underperform rating in a report on Friday, February 8th. SunTrust Banks increased their price target on shares of Mohawk Industries to $150.00 and gave the company a buy rating in a report on Monday, February 11th. They noted that the move was a valuation call. Buckingham Research began coverage on shares of Mohawk Industries in a report on Friday, February 1st. They issued an underperform rating and a $116.00 price target for the company. Finally, Credit Suisse Group set a $125.00 price target on shares of Mohawk Industries and gave the company a hold rating in a report on Friday, January 11th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Mohawk Industries has a consensus rating of Hold and a consensus target price of $160.59.

Shares of NYSE:MHK traded up $0.90 during trading hours on Friday, reaching $131.77. The stock had a trading volume of 615,437 shares, compared to its average volume of 604,621. Mohawk Industries has a 1 year low of $109.35 and a 1 year high of $245.79. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. The company has a market cap of $9.54 billion, a PE ratio of 10.69, a P/E/G ratio of 2.04 and a beta of 1.51.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.04. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.42 EPS. As a group, equities research analysts expect that Mohawk Industries will post 11.24 EPS for the current year.

In other news, insider Suzanne L. Helen sold 14,247 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $140.43, for a total transaction of $2,000,706.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total transaction of $301,710.00. Following the sale, the vice president now owns 9,134 shares in the company, valued at approximately $1,219,389. The disclosure for this sale can be found here. Insiders own 18.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Lavaca Capital LLC bought a new stake in shares of Mohawk Industries in the first quarter worth $25,000. Lindbrook Capital LLC bought a new stake in shares of Mohawk Industries in the fourth quarter worth $34,000. CSat Investment Advisory L.P. increased its stake in shares of Mohawk Industries by 222.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in shares of Mohawk Industries in the first quarter worth $38,000. Finally, Parallel Advisors LLC increased its stake in shares of Mohawk Industries by 123.4% in the fourth quarter. Parallel Advisors LLC now owns 353 shares of the company’s stock worth $41,000 after buying an additional 195 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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