Wells Fargo & Company Lowers Mohawk Industries (NYSE:MHK) Price Target to $135.00

Mohawk Industries (NYSE:MHK) had its price target dropped by Wells Fargo & Company from $140.00 to $135.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.57% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Loop Capital lowered their target price 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. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Barclays dropped 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 research report on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.17.

Mohawk Industries Price Performance

MHK stock traded down $1.21 during mid-day trading on Tuesday, reaching $125.50. The company’s stock had a trading volume of 79,279 shares, compared to its average volume of 715,433. The company’s 50 day moving average is $142.06 and its two-hundred day moving average is $139.11. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.92 billion, a PE ratio of 14.21, a P/E/G ratio of 1.45 and a beta of 1.38.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC increased its position in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of Mohawk Industries in the third quarter worth about $36,000. Headlands Technologies LLC purchased a new position in Mohawk Industries in the 2nd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. increased its position in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. 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.