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

Mohawk Industries (NYSE:MHK) had its price objective decreased by stock analysts at Barclays from $146.00 to $141.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 7.11% from the stock’s current price.

Several other equities analysts have also recently commented on MHK. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Loop Capital cut their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.25.

Mohawk Industries Stock Performance

NYSE:MHK traded up $0.67 during mid-day trading on Wednesday, hitting $131.64. 126,238 shares of the company’s stock traded hands, compared to its average volume of 718,511. The firm has a 50 day moving average of $144.30 and a two-hundred day moving average of $138.76. Mohawk Industries has a 12 month low of $90.79 and a 12 month high of $164.29. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the 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 transaction, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after purchasing an additional 292,661 shares during the last quarter. FMR LLC boosted its position in shares of Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the last quarter. State Street Corp boosted its position in shares of Mohawk Industries by 1.3% in the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of Mohawk Industries by 8.5% in the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after purchasing an additional 132,879 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Mohawk Industries by 42.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

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.