Mohawk Industries (NYSE:MHK) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

Mohawk Industries (NYSE:MHK) had its target price cut by Wells Fargo & Company from $140.00 to $135.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently weighed in on the company. Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Barclays reduced their price target on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Loop Capital reduced their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada lowered their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $159.17.

Mohawk Industries Trading Down 1.6 %

Shares of NYSE MHK opened at $124.70 on Tuesday. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29. The firm has a market cap of $7.87 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The business has a fifty day simple moving average of $142.06 and a two-hundred day simple moving average of $139.11. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Mohawk Industries in the second quarter worth $85,997,000. FMR LLC increased its position in shares of Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after acquiring an additional 748,070 shares during the period. Pacer Advisors Inc. raised its stake in Mohawk Industries by 42.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after purchasing an additional 212,820 shares during the last quarter. 78.98% 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 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.