Market News / Story
Why Mohawk Industries (MHK) Stock Is Trading Lower Today
Stock Story ·
Stock Story reports: What Happened? Shares of flooring manufacturer Mohawk Industries fell 5.2% in the afternoon session after RBC downgraded the stock to Underperform and lowered its price target, citing weak flooring demand, housing market weakness, and rising cost headwinds. According to TipRanks, RBC cut Mohawk to Underperform from Sector Perform and lowered its price target to $112 from $130. Analyst Mike Dahl expects the fourth-quarter outlook to disappoint, with his earnings estimate…