Mohawk Industries (NYSE:MHK) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a research report report published on Friday.

A number of other research analysts have also commented on MHK. The Goldman Sachs Group decreased their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company cut their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Raymond James reiterated a “strong-buy” rating and set a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Finally, Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $111.75 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The stock’s fifty day moving average price is $120.12 and its two-hundred day moving average price is $133.57. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, equities analysts forecast that Mohawk Industries will post 9.8 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Mohawk Industries by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock valued at $742,154,000 after buying an additional 20,327 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 6.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after buying an additional 191,077 shares during the period. FMR LLC increased its stake in shares of Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the period. State Street Corp increased its stake in shares of Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after buying an additional 23,016 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Mohawk Industries by 16.3% in the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock valued at $205,545,000 after buying an additional 241,448 shares during the period. 78.98% of the stock is currently owned by institutional investors.

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.