Mohawk Industries (NYSE:MHK) Upgraded at StockNews.com

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other equities research analysts also recently commented on MHK. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Truist Financial reduced their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, The Goldman Sachs Group reduced their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.00.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $130.95 on Tuesday. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.27 and a beta of 1.41. Mohawk Industries has a 1 year low of $96.28 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The firm’s 50-day moving average is $127.97 and its 200 day moving average is $140.58.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 over the last ninety days. 17.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after buying an additional 74,123 shares during the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after purchasing an additional 748,070 shares in the last quarter. State Street Corp lifted its position in shares of Mohawk Industries by 1.3% during 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 in the last quarter. Select Equity Group L.P. lifted its holdings in Mohawk Industries by 8.5% during the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after purchasing an additional 132,879 shares in the last quarter. Finally, Brandes Investment Partners LP increased its stake in Mohawk Industries by 10.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after buying an additional 96,174 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.