Mohawk Industries (NYSE:MHK) Rating Lowered to “Hold” at StockNews.com

Mohawk Industries (NYSE:MHK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

MHK has been the topic of several other research reports. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Royal Bank of Canada reduced their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Jefferies Financial Group boosted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Loop Capital reduced their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.17.

Mohawk Industries Trading Down 4.5 %

NYSE:MHK traded down $5.60 during trading hours on Wednesday, hitting $119.10. 553,261 shares of the stock were exchanged, compared to its average volume of 716,442. The company has a market capitalization of $7.52 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $141.45 and its two-hundred day moving average is $139.13. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in shares of Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after buying an additional 76 shares during the period. Quest Partners LLC boosted its stake in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the period. State of Michigan Retirement System increased its holdings 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 purchasing an additional 100 shares in the last quarter. Allworth Financial LP raised its stake in shares of Mohawk Industries by 20.6% in the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after purchasing an additional 107 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. 78.98% of the stock is currently 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.