Mohawk Industries, Inc. (NYSE:MHK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $145.07.

Several research analysts have recently commented on MHK shares. Raymond James restated a “strong-buy” rating and set a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Bank of America dropped their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group lowered their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Evercore ISI dropped their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Finally, Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Mohawk Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock valued at $742,154,000 after purchasing an additional 20,327 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after purchasing an additional 191,077 shares in the last quarter. State Street Corp lifted its holdings in shares of Mohawk Industries by 1.3% in the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after buying an additional 23,016 shares during the period. Invesco Ltd. grew its holdings in Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after acquiring an additional 241,448 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Mohawk Industries by 35.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after acquiring an additional 354,656 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Down 2.1 %

Shares of NYSE:MHK opened at $105.55 on Tuesday. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.44 and a beta of 1.23. Mohawk Industries has a 12-month low of $100.56 and a 12-month high of $164.29. The business has a 50-day moving average price of $117.26 and a 200 day moving average price of $130.85. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Sell-side analysts expect that Mohawk Industries will post 9.8 EPS for the current year.

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.