Mohawk Industries (NYSE:MHK) Upgraded to “Strong-Buy” at Baird R W

Baird R W upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a strong-buy rating in a research note released on Monday morning, Zacks.com reports.

Several other analysts have also issued reports on the stock. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays lifted their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their target price for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Loop Capital lifted their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Mohawk Industries Trading Up 0.1 %

NYSE MHK opened at $161.25 on Monday. The company has a fifty day simple moving average of $154.48 and a two-hundred day simple moving average of $133.14. The stock has a market cap of $10.30 billion, a P/E ratio of -24.66, a P/E/G ratio of 1.23 and a beta of 1.37. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $164.29. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

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

Insider Activity

In other news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the sale, the insider now directly owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the sale, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. 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 three months, insiders have sold 4,415 shares of company stock valued at $673,387. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently added to or reduced their stakes in MHK. PNC Financial Services Group Inc. increased its stake in Mohawk Industries by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,769 shares of the company’s stock worth $597,000 after buying an additional 184 shares during the period. Atlas Capital Advisors LLC acquired a new position in Mohawk Industries during the 1st quarter worth approximately $141,000. Cardinal Capital Management grew its holdings in Mohawk Industries by 17.7% during the 1st quarter. Cardinal Capital Management now owns 10,444 shares of the company’s stock worth $1,367,000 after acquiring an additional 1,572 shares in the last quarter. New England Research & Management Inc. acquired a new position in Mohawk Industries during the 1st quarter worth approximately $671,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Mohawk Industries by 12.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 117,143 shares of the company’s stock worth $15,333,000 after acquiring an additional 13,089 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.