Barclays Cuts Mohawk Industries (NYSE:MHK) Price Target to $115.00

Mohawk Industries (NYSE:MHK) had its price objective lowered by Barclays from $125.00 to $115.00 in a research note published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on MHK. Loop Capital lowered their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Bank of America lowered their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Robert W. Baird cut their price objective 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. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.36.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $102.92 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The stock’s 50-day moving average is $114.74 and its two-hundred day moving average is $128.78. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at about $41,000. Wilmington Savings Fund Society FSB acquired a new stake in Mohawk Industries in the third quarter valued at about $55,000. Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 223 shares in the last quarter. R Squared Ltd acquired a new position in Mohawk Industries during the 4th quarter worth approximately $66,000. Finally, Huntington National Bank raised its stake in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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.