Mohawk Industries (NYSE:MHK) had its target price reduced by JPMorgan Chase & Co. from $130.00 to $118.00 in a report issued on Monday, The Fly reports. They currently have an underweight rating on the stock.
Several other research firms have also issued reports on MHK. Loop Capital lifted their price target on shares of Mohawk Industries to $145.00 and gave the stock a hold rating in a research report on Friday, June 14th. Wells Fargo & Co lowered shares of Mohawk Industries from a market perform rating to an underperform rating and decreased their price target for the stock from $135.00 to $115.00 in a research report on Monday. National Securities began coverage on shares of Mohawk Industries in a research report on Thursday, July 11th. They issued a buy rating on the stock. Jefferies Financial Group upgraded shares of Mohawk Industries from a hold rating to a buy rating and lifted their price target for the stock from $145.00 to $167.00 in a research report on Tuesday, April 30th. Finally, Nomura decreased their price target on shares of Mohawk Industries from $176.00 to $167.00 and set a buy rating on the stock in a research report on Friday, July 26th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $142.59.
Mohawk Industries stock traded down $0.30 during mid-day trading on Monday, hitting $122.09. The company’s stock had a trading volume of 7,822 shares, compared to its average volume of 838,790. The company has a quick ratio of 0.66, a current ratio of 1.30 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.07 billion, a PE ratio of 9.94, a P/E/G ratio of 2.42 and a beta of 1.42. Mohawk Industries has a twelve month low of $109.35 and a twelve month high of $196.30. The firm’s fifty day simple moving average is $146.69.
In related news, insider Bernard Thiers sold 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total value of $419,580.00. Following the completion of the transaction, the insider now owns 43,559 shares of the company’s stock, valued at approximately $6,527,316.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzanne L. Helen sold 4,200 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.04, for a total transaction of $621,768.00. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock valued at $4,481,028 in the last ninety days. Company insiders own 18.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,183,033 shares of the company’s stock valued at $138,375,000 after purchasing an additional 30,054 shares during the period. Geode Capital Management LLC lifted its holdings in Mohawk Industries by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 844,953 shares of the company’s stock worth $98,658,000 after buying an additional 94,335 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Mohawk Industries during the 4th quarter worth about $191,000. Amundi Pioneer Asset Management Inc. lifted its holdings in Mohawk Industries by 12.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 64,858 shares of the company’s stock worth $7,585,000 after buying an additional 7,124 shares during the last quarter. Finally, FMR LLC lifted its holdings in Mohawk Industries by 16.3% during the 4th quarter. FMR LLC now owns 2,867,479 shares of the company’s stock worth $335,381,000 after buying an additional 402,710 shares during the last quarter. 80.65% 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 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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