Barclays Trims Mohawk Industries (NYSE:MHK) Target Price to $120.00

Mohawk Industries (NYSE:MHK) had its price objective cut by Barclays from $122.00 to $120.00 in a research report report published on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

MHK has been the topic of several other reports. The Goldman Sachs Group increased their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a hold rating to a buy rating and upped their price objective for the company from $98.00 to $152.00 in a report on Monday, February 12th. Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the company a sector perform rating in a research note on Monday. StockNews.com raised Mohawk Industries from a hold rating to a buy rating in a research note on Saturday, February 17th. Finally, Loop Capital reduced their price objective on Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of Hold and a consensus price target of $121.00.

Mohawk Industries Stock Performance

MHK stock opened at $114.87 on Monday. The firm has a market cap of $7.34 billion, a PE ratio of -17.56 and a beta of 1.34. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $118.97 and a 200-day moving average price of $103.95. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. As a group, equities research analysts expect that Mohawk Industries will post 9.54 earnings per share for the current year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Mohawk Industries by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company’s stock valued at $645,854,000 after acquiring an additional 39,143 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 14.8% during the fourth 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 during the last quarter. JPMorgan Chase & Co. grew its position in Mohawk Industries by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after purchasing an additional 103,813 shares in the last quarter. Ariel Investments LLC increased its stake in Mohawk Industries by 3.9% in the 3rd quarter. Ariel Investments LLC now owns 2,059,100 shares of the company’s stock valued at $176,691,000 after buying an additional 77,974 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Mohawk Industries by 9.7% during the 3rd quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock worth $150,958,000 after buying an additional 156,230 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.