Barclays Lowers Mohawk Industries (NYSE:MHK) Price Target to $120.00

Mohawk Industries (NYSE:MHK) had its price target reduced by Barclays from $122.00 to $120.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 4.06% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Loop Capital dropped their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. Royal Bank of Canada increased their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.00.

Mohawk Industries Price Performance

NYSE MHK opened at $115.32 on Monday. The company has a market cap of $7.35 billion, a PE ratio of -17.63 and a beta of 1.34. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $118.95 and its two-hundred day simple moving average is $103.88.

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

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its position in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Allworth Financial LP grew its position in Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the last quarter. Huntington National Bank grew its position in Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after acquiring an additional 143 shares during the last quarter. Signaturefd LLC grew its position in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its position in Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after acquiring an additional 650 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

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.