Mohawk Industries (NYSE:MHK) Price Target Cut to $105.00 by Analysts at Wells Fargo & Company

Mohawk Industries (NYSE:MHK) had its price objective trimmed by Wells Fargo & Company from $130.00 to $105.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Barclays dropped their target price on shares of Mohawk Industries from $125.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird cut their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.57.

Mohawk Industries Stock Down 0.8 %

MHK opened at $104.16 on Monday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.44 and a beta of 1.23. The business has a 50 day moving average of $114.10 and a 200-day moving average of $127.86. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, sell-side analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Resona Asset Management Co. Ltd. acquired a new position in shares of Mohawk Industries during the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Mohawk Industries in the third quarter worth $55,000. Versant Capital Management Inc boosted its holdings in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares during the last quarter. R Squared Ltd bought a new position in Mohawk Industries in the fourth quarter valued at $66,000. Finally, Huntington National Bank increased its stake in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after buying an additional 119 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.