Mohawk Industries (NYSE:MHK) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Mohawk Industries (NYSE:MHK) from a neutral rating to an overweight rating in a research note published on Monday, MarketBeat reports. They currently have $196.00 price target on the stock, up from their prior price target of $160.00.

Several other research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group upped their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Loop Capital lifted their target price on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Stock Down 0.8 %

Mohawk Industries stock opened at $151.70 on Monday. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of -23.20, a PEG ratio of 1.23 and a beta of 1.37. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The firm has a 50 day moving average price of $154.76 and a two-hundred day moving average price of $133.48.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.76 earnings per share. Equities analysts predict that Mohawk Industries will post 10 EPS for the current year.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne L. Helen sold 700 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,415 shares of company stock valued at $673,387. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Mohawk Industries in the second quarter worth approximately $50,000. Blue Trust Inc. raised its stake in Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares in the last quarter. Quent Capital LLC lifted its position in Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in Mohawk Industries in the 2nd quarter worth approximately $68,000. 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.