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

Mohawk Industries, Inc. (NYSE:MHK) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $155.85.

A number of equities analysts recently issued reports on the company. 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. Truist Financial lowered their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $151.00 to $161.00 in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st.

Mohawk Industries Trading Up 3.6 %

Mohawk Industries stock opened at $130.08 on Thursday. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29. 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 capitalization of $8.21 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.41 and a beta of 1.41. The firm has a 50-day moving average price of $129.39 and a two-hundred day moving average price of $139.88.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. The trade was a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after buying an additional 74,123 shares in the last quarter. FMR LLC boosted its stake in Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp grew its position in Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after purchasing an additional 23,016 shares in the last quarter. Select Equity Group L.P. grew its position in Mohawk Industries by 8.5% during the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after purchasing an additional 132,879 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after purchasing an additional 360,628 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

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.