Mohawk Industries (MHK) PT Lowered to $165.00 at Loop Capital

Mohawk Industries (NYSE:MHK) had its price target cut by Loop Capital to $165.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a hold rating on the stock. The analysts noted that the move was a valuation call.

MHK has been the subject of several other reports. ValuEngine lowered Mohawk Industries from a sell rating to a strong sell rating in a research report on Thursday, July 26th. Cleveland Research reiterated a hold rating on shares of Mohawk Industries in a research report on Wednesday, September 12th. Raymond James lowered Mohawk Industries from a strong-buy rating to an outperform rating in a research report on Friday, July 27th. Bank of America set a $210.00 price objective on Mohawk Industries and gave the company a buy rating in a research report on Thursday, October 11th. Finally, Jefferies Financial Group decreased their price objective on Mohawk Industries from $294.00 to $268.00 and set a buy rating for the company in a research report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $225.07.

Shares of Mohawk Industries stock traded down $1.08 during trading on Tuesday, hitting $151.21. 9,542 shares of the company were exchanged, compared to its average volume of 1,065,270. The firm has a market capitalization of $11.63 billion, a P/E ratio of 11.16, a PEG ratio of 1.65 and a beta of 1.29. Mohawk Industries has a 1-year low of $151.50 and a 1-year high of $286.85. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. Mohawk Industries’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.72 earnings per share. Research analysts anticipate that Mohawk Industries will post 13.66 EPS for the current fiscal year.

In related news, Director Filip Balcaen acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were bought at an average price of $181.00 per share, for a total transaction of $1,810,000.00. Following the purchase, the director now directly owns 776 shares in the company, valued at approximately $140,456. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $186.74, for a total value of $2,502,316.00. Following the sale, the chairman now owns 45,187 shares in the company, valued at approximately $8,438,220.38. The disclosure for this sale can be found here. Insiders acquired a total of 110,000 shares of company stock worth $20,167,250 in the last 90 days. Company insiders own 16.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Mohawk Industries by 2.2% during the 2nd quarter. BlackRock Inc. now owns 6,257,455 shares of the company’s stock worth $1,340,786,000 after purchasing an additional 134,039 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Mohawk Industries by 20.6% during the 2nd quarter. Select Equity Group L.P. now owns 1,959,024 shares of the company’s stock worth $419,760,000 after purchasing an additional 334,869 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Mohawk Industries by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,199,943 shares of the company’s stock worth $278,651,000 after purchasing an additional 3,493 shares in the last quarter. Standard Life Aberdeen plc raised its stake in shares of Mohawk Industries by 11.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 1,150,190 shares of the company’s stock worth $246,470,000 after purchasing an additional 118,966 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Mohawk Industries by 23.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,096,430 shares of the company’s stock worth $234,932,000 after purchasing an additional 206,062 shares in the last quarter. Institutional investors own 81.43% of the company’s stock.

Mohawk Industries Company Profile

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

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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