Mohawk Industries (NYSE:MHK) Shares Gap Down to $109.61

Mohawk Industries, Inc. (NYSE:MHKGet Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $109.61, but opened at $105.59. Mohawk Industries shares last traded at $105.50, with a volume of 165,210 shares.

Analyst Upgrades and Downgrades

MHK has been the subject of a number of research analyst reports. TheStreet cut shares of Mohawk Industries from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Barclays upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $80.00 to $100.00 in a research report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.67.

Check Out Our Latest Report on Mohawk Industries

Mohawk Industries Stock Performance

The company has a current ratio of 1.73, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $101.95 and its 200-day simple moving average is $94.49. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of -15.90 and a beta of 1.31.

Mohawk Industries (NYSE:MHKGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.47%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Mohawk Industries, Inc. will post 9.74 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $86.34, for a total value of $2,158,500.00. Following the sale, the chief executive officer now directly owns 14,200 shares of the company’s stock, valued at approximately $1,226,028. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Suzanne L. Helen sold 5,500 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $94.09, for a total transaction of $517,495.00. Following the transaction, the insider now directly owns 8,953 shares of the company’s stock, valued at $842,387.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 25,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $86.34, for a total transaction of $2,158,500.00. Following the transaction, the chief executive officer now directly owns 14,200 shares in the company, valued at $1,226,028. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,779 shares of company stock valued at $2,699,406. 17.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gyon Technologies Capital Management LP bought a new position in Mohawk Industries during the fourth quarter worth $30,000. Rockefeller Capital Management L.P. boosted its stake in Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock worth $31,000 after acquiring an additional 181 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Mohawk Industries by 156.8% during the second quarter. WASHINGTON TRUST Co now owns 339 shares of the company’s stock worth $35,000 after acquiring an additional 207 shares in the last quarter. Natixis bought a new position in Mohawk Industries during the second quarter worth $40,000. Finally, UniSuper Management Pty Ltd bought a new position in Mohawk Industries during the second quarter worth $41,000. 77.04% of the stock is owned by institutional investors.

Mohawk Industries Company Profile

(Get Free Report)

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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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