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

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

Several other equities analysts have also commented on MHK. Bank of America decreased their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Robert W. Baird decreased their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group decreased their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Performance

Shares of NYSE MHK traded down $2.52 during mid-day trading on Friday, reaching $111.75. 1,696,241 shares of the company were exchanged, compared to its average volume of 698,991. The company’s 50-day simple moving average is $120.12 and its 200-day simple moving average is $133.57. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.99 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.44 and a beta of 1.44. Mohawk Industries has a twelve month low of $104.88 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, research analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in Mohawk Industries by 7.5% during the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after buying an additional 115 shares during the last quarter. Huntington National Bank raised its holdings in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company’s stock valued at $3,054,000 after purchasing an additional 120 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after purchasing an additional 121 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares during the last quarter. 78.98% of the stock is 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.