Loop Capital Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price objective trimmed by Loop Capital from $185.00 to $180.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays lowered their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $140.00 to $160.00 in a report on Monday, October 7th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Finally, Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Mohawk Industries Stock Down 0.4 %

MHK opened at $130.88 on Wednesday. The firm’s fifty day moving average is $145.42 and its 200 day moving average is $138.26. Mohawk Industries has a fifty-two week low of $90.79 and a fifty-two week high of $164.29. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the sale, the insider now owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Mohawk Industries by 32.8% during the third quarter. Franklin Resources Inc. now owns 37,162 shares of the company’s stock valued at $5,878,000 after buying an additional 9,173 shares during the period. Tidal Investments LLC boosted its holdings in Mohawk Industries by 9.4% during the 3rd quarter. Tidal Investments LLC now owns 13,810 shares of the company’s stock valued at $2,219,000 after acquiring an additional 1,188 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the 3rd quarter valued at $55,000. Toronto Dominion Bank grew its position in Mohawk Industries by 96.0% in the 3rd quarter. Toronto Dominion Bank now owns 20,414 shares of the company’s stock valued at $3,280,000 after acquiring an additional 9,997 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Mohawk Industries during the third quarter worth $221,000. 78.98% of the stock is currently owned by institutional investors.

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.