Mohawk Industries (NYSE:MHK) Price Target Lowered to $135.00 at Loop Capital

Mohawk Industries (NYSE:MHK) had its price target lowered by stock analysts at Loop Capital from $140.00 to $135.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target would suggest a potential upside of 14.08% from the company’s previous close.

Several other research analysts also recently commented on MHK. The Goldman Sachs Group lifted their target price on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Royal Bank of Canada boosted their price target on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday. Barclays boosted their price target on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from $98.00 to $152.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.00.

Mohawk Industries Stock Up 2.5 %

Mohawk Industries stock traded up $2.89 during midday trading on Monday, reaching $118.34. The stock had a trading volume of 327,845 shares, compared to its average volume of 705,872. The stock has a market capitalization of $7.54 billion, a P/E ratio of -18.19 and a beta of 1.34. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The firm’s fifty day simple moving average is $118.86 and its 200-day simple moving average is $103.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 EPS. As a group, analysts expect that Mohawk Industries will post 9.56 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in Mohawk Industries by 1,152.0% in the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after purchasing an additional 733,097 shares in the last quarter. Norges Bank acquired a new position in Mohawk Industries in the 4th quarter worth about $68,050,000. Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 14.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after purchasing an additional 317,278 shares in the last quarter. Paradice Investment Management LLC grew its position in shares of Mohawk Industries by 52.4% in the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after buying an additional 178,310 shares during the last quarter. Finally, ARGA Investment Management LP grew its position in shares of Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after buying an additional 168,401 shares during the last quarter. Institutional investors and hedge funds 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.