Mohawk Industries (NYSE:MHK) Stock Rating Lowered by StockNews.com

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

Several other brokerages have also recently weighed in on MHK. The Goldman Sachs Group dropped their target price on Mohawk Industries from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Wells Fargo & Company dropped their price objective on Mohawk Industries from $155.00 to $137.00 and set an “equal weight” rating for the company in a report on Tuesday, June 28th. Barclays cut Mohawk Industries from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $152.00 to $129.00 in a report on Thursday, July 14th. Loop Capital dropped their price objective on Mohawk Industries from $165.00 to $130.00 in a report on Tuesday, April 12th. Finally, Bank of America upgraded Mohawk Industries from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $125.00 to $150.00 in a report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average target price of $164.62.

Mohawk Industries Price Performance

MHK opened at $128.48 on Friday. The stock has a 50-day moving average price of $130.42 and a 200-day moving average price of $137.37. Mohawk Industries has a 12-month low of $114.96 and a 12-month high of $211.74. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $8.16 billion, a P/E ratio of 8.38, a PEG ratio of 3.57 and a beta of 1.29.

Mohawk Industries (NYSE:MHKGet Rating) last issued its earnings results on Thursday, July 28th. The company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.12. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Mohawk Industries had a return on equity of 12.00% and a net margin of 9.02%. Mohawk Industries’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.45 EPS. Equities analysts predict that Mohawk Industries will post 15.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd bought a new position in Mohawk Industries during the 4th quarter valued at approximately $25,000. Bogart Wealth LLC bought a new position in Mohawk Industries during the 2nd quarter valued at approximately $25,000. Exchange Traded Concepts LLC bought a new stake in shares of Mohawk Industries in the 2nd quarter worth $28,000. CWM LLC bought a new stake in shares of Mohawk Industries in the 4th quarter worth $35,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Mohawk Industries by 35.0% in the 1st quarter. SRS Capital Advisors Inc. now owns 359 shares of the company’s stock worth $45,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

Mohawk Industries Company Profile

(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).

See Also

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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