Mohawk Industries (NYSE:MHK) Price Target Lowered to $135.00 at Loop Capital

Mohawk Industries (NYSE:MHK) had its price target decreased by Loop Capital from $140.00 to $135.00 in a report published on Monday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

MHK has been the subject of a number of other reports. Royal Bank of Canada lifted their price target on Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a report on Monday. The Goldman Sachs Group upped their price target on Mohawk Industries from $105.00 to $120.00 and gave the company a buy rating in a report on Thursday, January 11th. TheStreet raised shares of Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. Barclays upped their target price on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an equal weight rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a hold rating to a buy rating and lifted their price target for the stock from $98.00 to $152.00 in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $121.00.

Mohawk Industries Price Performance

NYSE:MHK opened at $118.43 on Monday. The stock has a fifty day moving average price of $118.92 and a 200 day moving average price of $103.64. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.16. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. Equities analysts expect that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the stock. Quarry LP increased its stake in shares of Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after acquiring an additional 174 shares during the period. Allworth Financial LP boosted its holdings in Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Huntington National Bank increased its position in Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after purchasing an additional 143 shares during the period. Signaturefd LLC raised its stake in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after buying an additional 128 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its stake in shares of Mohawk Industries by 32,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after buying an additional 650 shares in 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.