Mohawk Industries, Inc. (NYSE:MHK) Given Consensus Rating of “Moderate Buy” by Analysts

Mohawk Industries, Inc. (NYSE:MHK) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $123.20.

Several analysts have recently commented on the stock. Royal Bank of Canada increased their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price for the company in a report on Monday, June 10th. Truist Financial increased their target price on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 29th. Barclays lowered their target price on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd.

Mohawk Industries Trading Up 5.1 %

Shares of MHK stock opened at $113.59 on Friday. The company has a market cap of $7.25 billion, a P/E ratio of -17.37, a PEG ratio of 1.07 and a beta of 1.40. The stock has a 50 day simple moving average of $115.70 and a two-hundred day simple moving average of $113.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. Research analysts forecast that Mohawk Industries will post 9.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the transaction, the insider now directly owns 122,369 shares of the company’s stock, valued at $13,673,512.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several large investors have recently added to or reduced their stakes in MHK. Swedbank AB bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $2,340,000. Zimmer Partners LP bought a new position in Mohawk Industries in the 1st quarter worth about $7,199,000. Tidal Investments LLC boosted its stake in Mohawk Industries by 28.1% in the 1st quarter. Tidal Investments LLC now owns 12,831 shares of the company’s stock worth $1,679,000 after purchasing an additional 2,816 shares in the last quarter. Innealta Capital LLC bought a new position in Mohawk Industries in the 1st quarter worth about $238,000. Finally, Interval Partners LP bought a new position in Mohawk Industries in the 1st quarter worth about $3,272,000. 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.