Mohawk Industries (NYSE:MHK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a report released on Monday.

Several other equities analysts also recently commented on MHK. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Loop Capital decreased their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Raymond James reissued a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Robert W. Baird reduced their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Five research 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’s stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Price Performance

NYSE MHK opened at $115.98 on Monday. The company has a market capitalization of $7.26 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The business’s fifty day moving average is $120.96 and its 200 day moving average is $136.15. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share 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%. Sell-side analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares in the company, valued at $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is owned by insiders.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Mohawk Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock valued at $742,154,000 after purchasing an additional 20,327 shares during the last quarter. JPMorgan Chase & Co. grew its position in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock worth $383,076,000 after purchasing an additional 191,077 shares during the period. FMR LLC grew its position in Mohawk Industries by 52.3% during 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 during the period. Finally, Invesco Ltd. grew its position in Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock worth $205,545,000 after purchasing an additional 241,448 shares during the period. 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.