Mohawk Industries (NYSE:MHK) Price Target Cut to $135.00

Mohawk Industries (NYSE:MHK) had its price target dropped by stock analysts at Cfra from $145.00 to $135.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the stock. Cfra’s target price indicates a potential downside of 3.34% from the company’s previous close.

A number of other research firms have also issued reports on MHK. Raymond James dropped their target price on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Mohawk Industries from $150.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $136.00 price target on the stock. in a research report on Tuesday, January 14th. Stifel Nicolaus boosted their price target on shares of Mohawk Industries from $145.00 to $165.00 in a research report on Monday, October 28th. Finally, Goldman Sachs Group started coverage on shares of Mohawk Industries in a research report on Friday, December 6th. They issued a “buy” rating and a $165.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Mohawk Industries presently has an average rating of “Hold” and an average price target of $145.36.

Shares of Mohawk Industries stock traded up $7.03 during trading hours on Friday, reaching $139.67. 985,092 shares of the company’s stock were exchanged, compared to its average volume of 666,595. Mohawk Industries has a 1 year low of $108.93 and a 1 year high of $156.60. The company has a market capitalization of $9.12 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.36. The business has a fifty day moving average of $134.03 and a two-hundred day moving average of $130.26. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 13th. The company reported $2.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.05. Mohawk Industries had a net margin of 7.09% and a return on equity of 9.82%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts predict that Mohawk Industries will post 9.96 EPS for the current year.

In other news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $138.94, for a total transaction of $972,580.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Mohawk Industries by 2.0% during the 2nd quarter. BlackRock Inc. now owns 4,292,004 shares of the company’s stock valued at $632,943,000 after purchasing an additional 82,737 shares in the last quarter. FMR LLC lifted its holdings in Mohawk Industries by 1.0% during the fourth quarter. FMR LLC now owns 3,352,115 shares of the company’s stock worth $457,163,000 after acquiring an additional 32,312 shares in the last quarter. Boston Partners bought a new position in Mohawk Industries during the fourth quarter worth about $415,733,000. State Street Corp lifted its holdings in Mohawk Industries by 1.4% during the third quarter. State Street Corp now owns 2,851,554 shares of the company’s stock worth $353,792,000 after acquiring an additional 39,921 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Mohawk Industries by 6.9% in the fourth quarter. Pzena Investment Management LLC now owns 2,034,926 shares of the company’s stock valued at $277,523,000 after purchasing an additional 131,899 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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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