Loop Capital Has Lowered Expectations for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its target price reduced by analysts at Loop Capital from $180.00 to $155.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 30.75% from the stock’s current price.

MHK has been the topic of a number of other reports. Truist Financial cut their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their target price on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI cut their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday. Raymond James reissued a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research note on Monday. Finally, StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Trading Down 1.5 %

MHK stock traded down $1.79 during midday trading on Monday, hitting $118.55. The company had a trading volume of 343,709 shares, compared to its average volume of 797,745. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The stock’s 50 day moving average price is $124.30 and its 200 day moving average price is $140.65. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, equities research analysts expect that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC purchased a new stake in Mohawk Industries in the 4th quarter valued at approximately $482,000. PFG Advisors purchased a new stake in Mohawk Industries in the 4th quarter valued at approximately $238,000. Daiwa Securities Group Inc. lifted its stake in Mohawk Industries by 16.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,814 shares of the company’s stock valued at $335,000 after buying an additional 397 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Mohawk Industries by 10.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,652 shares of the company’s stock valued at $1,626,000 after buying an additional 1,345 shares in the last quarter. Finally, Amundi lifted its stake in shares of Mohawk Industries by 117.4% during the 4th quarter. Amundi now owns 331,750 shares of the company’s stock worth $39,239,000 after purchasing an additional 179,121 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.