Barclays Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price target lowered by research analysts at Barclays from $146.00 to $141.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 7.11% from the company’s previous close.

A number of other research analysts have also issued reports on MHK. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Loop Capital reduced their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Truist Financial reduced their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Jefferies Financial Group boosted their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.25.

Mohawk Industries Stock Up 0.5 %

Shares of NYSE:MHK traded up $0.67 during mid-day trading on Wednesday, hitting $131.64. 126,238 shares of the company traded hands, compared to its average volume of 718,511. The firm has a market cap of $8.31 billion, a P/E ratio of 14.89, a PEG ratio of 1.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52-week low of $90.79 and a 52-week high of $164.29. The firm’s 50 day simple moving average is $144.30 and its 200 day simple moving average is $138.76.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now owns 2,453 shares in the company, valued at $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Mohawk Industries during the 2nd quarter worth about $1,253,000. Thompson Siegel & Walmsley LLC boosted its stake in shares of Mohawk Industries by 115.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock worth $10,312,000 after acquiring an additional 48,653 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after acquiring an additional 14,480 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Mohawk Industries by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock valued at $103,887,000 after purchasing an additional 39,653 shares during the period. 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.