Mohawk Industries (NYSE:MHK) Stock Rating Upgraded by Robert W. Baird

Mohawk Industries (NYSE:MHK) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a $196.00 target price on the stock, up from their previous target price of $160.00. Robert W. Baird’s price objective would indicate a potential upside of 28.16% from the stock’s previous close.

MHK has been the topic of several other reports. Royal Bank of Canada increased their price target on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. 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 research report on Friday, August 2nd. Jefferies Financial Group boosted their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Loop Capital boosted their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Mohawk Industries Trading Down 5.2 %

Mohawk Industries stock opened at $152.93 on Monday. Mohawk Industries has a one year low of $76.02 and a one year high of $164.29. The business’s fifty day moving average is $154.60 and its 200 day moving average is $133.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The stock has a market capitalization of $9.77 billion, a PE ratio of -23.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 earnings per share. On average, sell-side analysts predict that Mohawk Industries will post 10 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now owns 119,369 shares in the company, valued at $18,042,624.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock valued at $673,387 over the last 90 days. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Mohawk Industries by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after buying an additional 17,541 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares during the last quarter. Select Equity Group L.P. increased its position in shares of 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 valued at $193,380,000 after purchasing an additional 132,879 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 buying an additional 360,628 shares during the period. Finally, Brandes Investment Partners LP lifted its position in Mohawk Industries by 10.5% in the second quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after buying an additional 96,174 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.