Mohawk Industries (NYSE:MHK) Stock Rating Upgraded by Baird R W

Mohawk Industries (NYSE:MHK) was upgraded by stock analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks.com reports.

A number of other research firms have also commented on MHK. Royal Bank of Canada lifted their target price on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Barclays boosted their price objective on 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 raised 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 note on Friday, July 26th. Loop Capital upped their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their price objective on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Stock Down 5.2 %

Shares of MHK opened at $152.93 on Monday. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $164.29. The firm has a market cap of $9.77 billion, a P/E ratio of -23.38, a P/E/G ratio of 1.23 and a beta of 1.37. The stock has a 50 day simple moving average of $154.60 and a two-hundred day simple moving average of $133.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Mohawk Industries by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,769 shares of the company’s stock valued at $597,000 after purchasing an additional 184 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Mohawk Industries during the 1st quarter worth approximately $141,000. Cardinal Capital Management grew its position in shares of Mohawk Industries by 17.7% in the first quarter. Cardinal Capital Management now owns 10,444 shares of the company’s stock valued at $1,367,000 after purchasing an additional 1,572 shares in the last quarter. New England Research & Management Inc. acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $671,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Mohawk Industries by 12.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 117,143 shares of the company’s stock worth $15,333,000 after buying an additional 13,089 shares in the last quarter. Hedge funds and other 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.