Wells Fargo & Company Lowers Mohawk Industries (NYSE:MHK) Price Target to $135.00

Mohawk Industries (NYSE:MHKGet Rating) had its price target dropped by equities research analysts at Wells Fargo & Company from $155.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.70% from the company’s previous close.

MHK has been the subject of several other reports. Loop Capital decreased their target price on Mohawk Industries from $165.00 to $130.00 in a research report on Tuesday, April 12th. The Goldman Sachs Group decreased their target price on Mohawk Industries from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Barclays decreased their target price on Mohawk Industries from $165.00 to $152.00 in a research report on Thursday, March 31st. Credit Suisse Group initiated coverage on Mohawk Industries in a research report on Tuesday, April 5th. They set a “neutral” rating and a $140.00 target price for the company. Finally, UBS Group decreased their price objective on Mohawk Industries from $180.00 to $162.00 in a research report on Monday, February 14th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.00.

Shares of NYSE:MHK opened at $128.94 on Thursday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 8.65, a P/E/G ratio of 5.93 and a beta of 1.51. Mohawk Industries has a 1-year low of $117.56 and a 1-year high of $231.80. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $134.76 and a two-hundred day moving average price of $160.39.

Mohawk Industries (NYSE:MHKGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The company reported $2.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.05. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Mohawk Industries had a return on equity of 11.93% and a net margin of 9.22%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.54 EPS. As a group, equities analysts predict that Mohawk Industries will post 13.91 EPS for the current year.

In other news, VP Rodney David Patton sold 506 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $144.76, for a total transaction of $73,248.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chistopher Wellborn acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were bought at an average price of $135.76 per share, for a total transaction of $1,357,600.00. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP lifted its holdings in Mohawk Industries by 2.2% during the 3rd quarter. Quantinno Capital Management LP now owns 2,797 shares of the company’s stock valued at $496,000 after purchasing an additional 59 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Mohawk Industries by 1.9% during the fourth quarter. Fulton Bank N.A. now owns 3,359 shares of the company’s stock worth $612,000 after buying an additional 64 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Mohawk Industries by 8.2% during the fourth quarter. Fifth Third Bancorp now owns 873 shares of the company’s stock worth $159,000 after buying an additional 66 shares in the last quarter. Leuthold Group LLC lifted its holdings in shares of Mohawk Industries by 0.3% during the third quarter. Leuthold Group LLC now owns 23,980 shares of the company’s stock worth $4,254,000 after buying an additional 69 shares in the last quarter. Finally, Centre Asset Management LLC lifted its holdings in shares of Mohawk Industries by 0.5% during the third quarter. Centre Asset Management LLC now owns 14,710 shares of the company’s stock worth $2,827,000 after buying an additional 70 shares in the last quarter. 75.00% of the stock is owned by institutional investors and hedge funds.

About Mohawk Industries (Get Rating)

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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