Barclays Lowers Mohawk Industries (NYSE:MHK) Price Target to $125.00

Mohawk Industries (NYSE:MHK) had its price objective lowered by Barclays from $130.00 to $125.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on MHK. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Truist Financial dropped their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company lowered their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, January 8th. Finally, Loop Capital lowered their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Six 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $116.77 on Monday. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The stock has a 50 day simple moving average of $123.32 and a 200-day simple moving average of $140.07. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. On average, equities analysts forecast that Mohawk Industries will post 10.71 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 19,078 shares of company stock worth $2,474,347 over the last quarter. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MHK. Creative Planning raised its position in shares of Mohawk Industries by 7.6% in the 2nd quarter. Creative Planning now owns 2,914 shares of the company’s stock worth $331,000 after buying an additional 207 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Mohawk Industries in the 2nd quarter worth $371,000. CWM LLC raised its position in shares of Mohawk Industries by 1,024.3% in the 3rd quarter. CWM LLC now owns 7,443 shares of the company’s stock worth $1,196,000 after buying an additional 6,781 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Mohawk Industries in the 3rd quarter worth $976,000. Finally, Exchange Traded Concepts LLC raised its position in Mohawk Industries by 2,773.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company’s stock valued at $245,000 after purchasing an additional 1,470 shares during the period. 78.98% of the stock is owned by hedge funds and other 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.