Mohawk Industries, Inc. (NYSE:MHK) Receives Average Rating of “Moderate Buy” from Analysts

Mohawk Industries, Inc. (NYSE:MHK) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $162.08.

A number of equities analysts recently commented on MHK shares. JPMorgan Chase & Co. raised their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $140.00 to $160.00 in a research note on Monday, October 7th.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $139.91 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.83 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The firm’s 50 day moving average price is $149.22 and its 200-day moving average price is $137.57. Mohawk Industries has a twelve month low of $82.71 and a twelve month high of $164.29.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in MHK. Tidal Investments LLC boosted its holdings in Mohawk Industries by 9.4% during the 3rd quarter. Tidal Investments LLC now owns 13,810 shares of the company’s stock valued at $2,219,000 after acquiring an additional 1,188 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries during the third quarter valued at $55,000. Toronto Dominion Bank grew its holdings in shares of Mohawk Industries by 96.0% in the third quarter. Toronto Dominion Bank now owns 20,414 shares of the company’s stock worth $3,280,000 after purchasing an additional 9,997 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Mohawk Industries in the 3rd quarter worth about $221,000. Finally, M&T Bank Corp lifted its holdings in Mohawk Industries by 9.1% during the 3rd quarter. M&T Bank Corp now owns 3,517 shares of the company’s stock valued at $565,000 after buying an additional 293 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.