Mohawk Industries (NYSE:MHK) Price Target Cut to $119.00 by Analysts at Royal Bank of Canada

Mohawk Industries (NYSE:MHK - Free Report) had its target price reduced by Royal Bank of Canada from $130.00 to $119.00 in a report issued on Monday, MarketBeat reports. They currently have a sector perform rating on the stock.

Other research analysts have also issued research reports about the stock. Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Loop Capital dropped 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 report on Monday, February 10th. Evercore ISI lowered their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a report on Monday, February 10th. Barclays lowered their price target on Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $140.00.

Mohawk Industries Stock Up 1.8 %

Shares of Mohawk Industries stock traded up $1.85 on Monday, hitting $102.65. 32,706 shares of the company traded hands, compared to its average volume of 743,665. 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 company has a market cap of $6.42 billion, a PE ratio of 12.63, a PEG ratio of 1.44 and a beta of 1.24. Mohawk Industries has a 12-month low of $96.24 and a 12-month high of $164.29. The company has a 50-day moving average price of $109.18 and a 200 day moving average price of $121.92.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted 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. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 EPS. Sell-side analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Mohawk Industries

A number of large investors have recently modified their holdings of the business. Citadel Investment Advisory Inc. lifted its position in Mohawk Industries by 0.8% in the 1st quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after buying an additional 100 shares during the last quarter. Huntington National Bank grew its holdings 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 acquiring an additional 119 shares during the period. Janus Henderson Group PLC grew its stake in Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after purchasing an additional 120 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock valued at $680,000 after buying an additional 121 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Mohawk Industries by 3.8% in the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock worth $378,000 after buying an additional 122 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

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.