Wells Fargo & Company Lowers Mohawk Industries (NYSE:MHK) Price Target to $130.00

Mohawk Industries (NYSE:MHK) had its target price dropped by analysts at Wells Fargo & Company from $135.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.53% from the stock’s current price.

MHK has been the subject of a number of other research reports. Truist Financial cut their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Barclays reduced their price target on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group dropped their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price target for the company from $151.00 to $161.00 in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $154.62.

Mohawk Industries Trading Up 0.7 %

Shares of Mohawk Industries stock opened at $120.90 on Tuesday. The stock has a market cap of $7.63 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $101.83 and a 12-month high of $164.29. The business’s 50 day moving average is $125.02 and its 200-day moving average is $140.65.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares of the company’s stock, valued at $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC raised its position in Mohawk Industries by 12.5% during the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after purchasing an additional 76 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after buying an additional 115 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after buying an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

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.