Mohawk Industries (NYSE:MHK) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a report published on Wednesday.

Several other research firms also recently issued reports on MHK. Royal Bank of Canada decreased their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Jefferies Financial Group upped their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Truist Financial reduced 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 report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.17.

Mohawk Industries Trading Up 2.0 %

Shares of Mohawk Industries stock opened at $119.16 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $139.09 and a 200-day simple moving average of $138.82. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.41 and a beta of 1.38. Mohawk Industries has a 12-month low of $96.28 and a 12-month high of $164.29.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently made changes to their positions in MHK. Quest Partners LLC grew its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Mohawk Industries during the 3rd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the third quarter worth $55,000. Finally, Blue Trust Inc. raised its holdings in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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.