Mohawk Industries (NYSE:MHK) Lowered to “Hold” Rating by StockNews.com

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

Other analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James restated a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Bank of America lowered their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Barclays cut their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Six 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $111.75 on Friday. The stock’s 50 day moving average is $120.12 and its 200-day moving average is $133.45. Mohawk Industries has a twelve month low of $104.88 and a twelve month high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.44 and a beta of 1.44.

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 analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries during the third quarter worth about $36,000. Resona Asset Management Co. Ltd. bought a new position in Mohawk Industries in the 4th quarter worth approximately $41,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries in the 3rd quarter valued at approximately $55,000. True Wealth Design LLC bought a new stake in Mohawk Industries during the 3rd quarter valued at $61,000. Finally, Versant Capital Management Inc lifted its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after acquiring an additional 223 shares in 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.