Mohawk Industries (NYSE:MHK) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries (NYSE:MHK) in a report issued on Tuesday, MarketBeat.com reports. The brokerage issued a hold rating and a $121.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on MHK. Raymond James reissued a “strong-buy” rating and set a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Evercore ISI decreased their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Wednesday, January 8th. Robert W. Baird reduced their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, Bank of America decreased their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $145.07.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $114.93 on Tuesday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The stock has a fifty day simple moving average of $118.38 and a two-hundred day simple moving average of $131.63. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping 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%. Analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

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

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.