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

Mohawk Industries (NYSE:MHK) had its price target reduced by research analysts at The Goldman Sachs Group from $170.00 to $145.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 16.37% from the company’s previous close.

MHK has been the topic of several other research reports. Truist Financial lowered their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $161.00 in a report on Friday. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Loop Capital dropped their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group lifted their price objective on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.85.

Mohawk Industries Stock Performance

NYSE:MHK opened at $124.60 on Tuesday. The stock has a 50-day moving average price of $130.04 and a 200 day moving average price of $139.86. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $96.28 and a 12-month high of $164.29. The stock has a market capitalization of $7.86 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.41 and a beta of 1.41.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Quest Partners LLC boosted its holdings in shares of Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Mohawk Industries by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 2,131 shares of the company’s stock valued at $242,000 after acquiring an additional 391 shares in the last quarter. Headlands Technologies LLC purchased a new position in Mohawk Industries in the second quarter worth $50,000. Envestnet Asset Management Inc. lifted its holdings in shares of Mohawk Industries by 12.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 61,360 shares of the company’s stock valued at $6,970,000 after purchasing an additional 6,984 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth $85,997,000. Hedge funds and other 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.