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

Mohawk Industries (NYSE:MHK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other research analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Barclays dropped their price objective on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Loop Capital reduced their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.17.

Mohawk Industries Price Performance

Shares of MHK stock opened at $116.82 on Wednesday. Mohawk Industries has a 1 year low of $96.28 and a 1 year 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 firm’s 50 day moving average is $140.65 and its 200-day moving average is $138.99. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.45 and a beta of 1.38.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 in the last quarter. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Mohawk Industries by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,573 shares of the company’s stock worth $1,315,000 after acquiring an additional 493 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Mohawk Industries by 7.0% in the second quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its holdings in Mohawk Industries by 11.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 667,516 shares of the company’s stock worth $75,823,000 after purchasing an additional 67,452 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mohawk Industries by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 311,268 shares of the company’s stock valued at $35,357,000 after purchasing an additional 7,194 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Mohawk Industries by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after buying an additional 100 shares during the last quarter. 78.98% of the stock is 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.