StockNews.com Lowers Mohawk Industries (NYSE:MHK) to Hold

StockNews.com downgraded shares of Mohawk Industries (NYSE:MHK – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other equities analysts also recently issued reports on MHK. Raymond James increased their price target on shares of Mohawk Industries from $190.00 to $210.00 in a report on Monday, May 2nd. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from an underweight rating to a neutral rating and raised their target price for the company from $127.00 to $156.00 in a report on Tuesday, May 3rd. Truist Financial dropped their target price on shares of Mohawk Industries from $200.00 to $175.00 and set a buy rating for the company in a report on Wednesday, March 30th. Credit Suisse Group raised their target price on shares of Mohawk Industries from $140.00 to $160.00 in a report on Tuesday, May 3rd. Finally, Barclays dropped their target price on shares of Mohawk Industries from $165.00 to $152.00 in a report on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $169.85.

Shares of MHK opened at $122.53 on Monday. The company has a 50-day simple moving average of $134.81 and a 200-day simple moving average of $146.59. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $7.79 billion, a PE ratio of 7.99, a P/E/G ratio of 3.17 and a beta of 1.29. Mohawk Industries has a 52-week low of $114.96 and a 52-week high of $211.74.

Mohawk Industries (NYSE:MHK – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.89. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.85 billion. Mohawk Industries had a net margin of 9.02% and a return on equity of 12.00%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.49 EPS. On average, research analysts anticipate that Mohawk Industries will post 15.52 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of MHK. Franklin Resources Inc. grew its holdings in shares of Mohawk Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,783 shares of the company’s stock worth $316,000 after buying an additional 275 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Mohawk Industries in the third quarter worth approximately $104,000. Marshall Wace LLP acquired a new stake in shares of Mohawk Industries in the third quarter worth approximately $2,403,000. Point72 Hong Kong Ltd acquired a new stake in shares of Mohawk Industries in the third quarter worth approximately $162,000. Finally, LPL Financial LLC boosted its position in shares of Mohawk Industries by 620.2% in the third quarter. LPL Financial LLC now owns 22,168 shares of the company’s stock worth $3,933,000 after acquiring an additional 19,090 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

About Mohawk Industries (Get Rating)

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

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