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

Mohawk Industries (NYSE:MHK) had its price target decreased by Royal Bank of Canada from $130.00 to $119.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts have also weighed in on the company. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Evercore ISI dropped their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group cut 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 note on Tuesday, January 14th. Bank of America lowered their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $141.21.

Mohawk Industries Stock Performance

Shares of MHK opened at $101.47 on Monday. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 12.48, 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 firm has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $122.21. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 EPS. Research analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MHK. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth approximately $55,000. Versant Capital Management Inc increased its stake in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 shares during the last quarter. Allworth Financial LP raised its position in Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Mohawk Industries during the fourth quarter worth $66,000. 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.