Mohawk Industries (NYSE:MHK) Downgraded by StockNews.com to Hold

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

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Royal Bank of Canada decreased their target price 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. Barclays dropped their price target on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Truist Financial decreased their price objective 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. Finally, Jefferies Financial Group lifted their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $159.17.

Mohawk Industries Trading Down 4.5 %

Shares of MHK opened at $119.10 on Wednesday. Mohawk Industries has a 12 month low of $96.28 and a 12 month high of $164.29. The stock’s 50-day moving average is $140.65 and its two-hundred day moving average is $138.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The stock has a market cap of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.45 and a beta of 1.38.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Mohawk Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Mohawk Industries by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,573 shares of the company’s stock valued at $1,315,000 after buying an additional 493 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Mohawk Industries by 7.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Mohawk Industries by 11.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 667,516 shares of the company’s stock worth $75,823,000 after purchasing an additional 67,452 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Mohawk Industries by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 311,268 shares of the company’s stock valued at $35,357,000 after purchasing an additional 7,194 shares during the period. Finally, State of Michigan Retirement System grew its stake in Mohawk Industries by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after buying an additional 100 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.