Mohawk Industries (NYSE:MHK) Shares Gap Down – What’s Next?

Mohawk Industries, Inc. (NYSE:MHK) gapped down prior to trading on Friday . The stock had previously closed at $130.83, but opened at $127.01. Mohawk Industries shares last traded at $124.46, with a volume of 243,344 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on MHK. Barclays decreased their price objective on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Loop Capital cut their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Truist Financial lowered their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Royal Bank of Canada cut their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.00.

Mohawk Industries Stock Down 5.0 %

The firm has a 50 day moving average price of $127.97 and a 200-day moving average price of $140.58. 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 firm has a market cap of $7.85 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.27 and a beta of 1.41.

Insider Activity

In related news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries 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 completion of the sale, the insider now directly owns 104,084 shares of the company’s stock, valued at $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB acquired a new stake in Mohawk Industries in the third quarter worth $55,000. Blue Trust Inc. boosted its position in shares of 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 in the last quarter. True Wealth Design LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $61,000. Finally, Versant Capital Management Inc increased its position in shares of Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after buying an additional 223 shares in the last quarter. 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.