Mohawk Industries (NYSE:MHK) Given New $111.00 Price Target at Barclays

Mohawk Industries (NYSE:MHK - Get Free Report) had its price objective dropped by investment analysts at Barclays from $115.00 to $111.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 8.32% from the stock's current price.

A number of other analysts also recently issued reports on the stock. Wolfe Research upgraded shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut 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. Robert W. Baird decreased their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, Raymond James restated a "strong-buy" rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.21.

Mohawk Industries Price Performance

Shares of NYSE MHK traded down $2.22 during midday trading on Monday, hitting $102.48. The stock had a trading volume of 389,274 shares, compared to its average volume of 742,346. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1 year low of $96.24 and a 1 year high of $164.29. The company has a market capitalization of $6.41 billion, a PE ratio of 12.66, a P/E/G ratio of 1.44 and a beta of 1.23. The stock has a 50 day simple moving average of $110.16 and a 200-day simple moving average of $122.63.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm posted $1.86 EPS. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business'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 transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at about $41,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries during the third quarter worth about $55,000. Versant Capital Management Inc increased its position in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after purchasing an additional 223 shares during the last quarter. Allworth Financial LP increased its stake in Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after acquiring an additional 158 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Mohawk Industries during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds 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.

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