Mohawk Industries (NYSE:MHK) Receives “Strong-Buy” Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Mohawk Industries (NYSE:MHK) in a report issued on Monday,Benzinga reports. The firm currently has a $165.00 price target on the stock, down from their previous price target of $185.00.

A number of other analysts have also recently weighed in on MHK. Robert W. Baird cut their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America cut their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group cut their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $117.73 on Monday. The business has a 50-day simple moving average of $123.93 and a 200-day simple moving average of $140.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29. The company has a market cap of $7.43 billion, a PE ratio of 14.48, a P/E/G ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, equities research analysts forecast that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the transaction, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. This represents a 44.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 19,078 shares of company stock worth $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries in the third quarter valued at about $36,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $55,000. Blue Trust Inc. lifted its holdings in shares of Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the period. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries in the third quarter valued at approximately $61,000. Finally, Capital Performance Advisors LLP purchased a new position in Mohawk Industries in the third quarter worth $73,000. 78.98% of the stock is currently 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.