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

Mohawk Industries (NYSE:MHK) had its target price lowered by Wells Fargo & Company from $140.00 to $135.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also issued reports about the company. Loop Capital dropped 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. Jefferies Financial Group lifted their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Royal Bank of Canada dropped their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Finally, Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.17.

Mohawk Industries Price Performance

NYSE:MHK opened at $124.70 on Tuesday. The firm’s fifty day moving average is $142.06 and its two-hundred day moving average is $139.11. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. The trade was a 44.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in Mohawk Industries in the 2nd quarter valued at $85,997,000. FMR LLC grew its holdings 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 purchasing an additional 748,070 shares during the period. Pacer Advisors Inc. increased its position in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after purchasing an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Mohawk Industries by 1,464.0% in 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. Hedge funds and other 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.