Wells Fargo & Company Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price objective lowered by analysts at Wells Fargo & Company from $140.00 to $135.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.35% from the company’s current price.

MHK has been the subject of a number of other research reports. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Barclays dropped their price target on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Loop Capital lowered their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Finally, Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.17.

Mohawk Industries Stock Down 4.5 %

Shares of NYSE:MHK opened at $119.10 on Tuesday. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29. The stock has a market cap of $7.52 billion, a P/E ratio of 13.49, a PEG ratio of 1.45 and a beta of 1.38. The business has a fifty day moving average of $141.45 and a two-hundred day moving average of $139.13. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Mohawk Industries during the third quarter worth $36,000. Quest Partners LLC grew its stake in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the 3rd quarter worth $55,000. Blue Trust Inc. increased its holdings in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the period. Finally, True Wealth Design LLC acquired a new stake in Mohawk Industries in the 3rd quarter valued at about $61,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Company Profile

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.