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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $159.17.

A number of research analysts have weighed in on MHK shares. Truist Financial dropped their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Loop Capital decreased their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Royal Bank of Canada dropped their target price on 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, Barclays decreased their price target on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the sale, the insider now directly owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 19,078 shares of company stock worth $2,474,347 over the last quarter. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its position in Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Mohawk Industries during the 2nd quarter valued at about $1,253,000. Natixis Advisors LLC raised its holdings in shares of Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock valued at $14,056,000 after buying an additional 14,480 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its position in Mohawk Industries by 115.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock worth $10,312,000 after buying an additional 48,653 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Mohawk Industries by 4.5% in the second quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock worth $103,887,000 after buying an additional 39,653 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Up 2.0 %

Shares of NYSE MHK opened at $119.16 on Friday. 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 firm has a market cap of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 1.38. The company’s fifty day simple moving average is $139.09 and its 200 day simple moving average is $138.98. Mohawk Industries has a 12-month low of $96.28 and a 12-month high of $164.29.

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.