The Goldman Sachs Group Lowers Mohawk Industries (NYSE:MHK) Price Target to $145.00

Mohawk Industries (NYSE:MHK) had its price target decreased by analysts at The Goldman Sachs Group from $170.00 to $145.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 16.37% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Loop Capital decreased their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.85.

Mohawk Industries Stock Up 1.4 %

Shares of NYSE:MHK opened at $124.60 on Tuesday. The firm has a market capitalization of $7.86 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29. The firm has a fifty day moving average of $130.04 and a 200 day moving average of $139.86.

Insider Activity

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 over the last 90 days. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at about $85,997,000. FMR LLC grew its position in Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the period. Pacer Advisors Inc. increased its holdings in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after buying an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Mohawk Industries during the 2nd quarter worth $21,061,000. Institutional investors own 78.98% of the company’s stock.

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.