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

Mohawk Industries, Inc. (NYSE:MHK) has been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $146.92.

Several equities analysts have recently issued reports on MHK shares. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Raymond James restated a “strong-buy” rating and issued a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Loop Capital reduced their price objective on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $114.29 on Tuesday. The company has a market cap of $7.15 billion, a PE ratio of 14.06, a P/E/G ratio of 1.44 and a beta of 1.44. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm has a 50-day simple moving average of $118.70 and a 200 day simple moving average of $131.93. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, sell-side analysts anticipate that Mohawk Industries will post 9.8 EPS for the current year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

Several large investors have recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries in the third quarter worth approximately $55,000. Versant Capital Management Inc grew its position in Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after acquiring an additional 223 shares in the last quarter. R Squared Ltd bought a new position in shares of Mohawk Industries during the 4th quarter valued at $66,000. Finally, Huntington National Bank lifted its stake in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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.