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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $163.25.

Several research analysts have weighed in on the company. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Loop Capital boosted their price target on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird boosted their price target on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price target on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th.

Mohawk Industries Trading Up 0.3 %

NYSE MHK opened at $157.30 on Tuesday. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of -24.05, a PEG ratio of 1.23 and a beta of 1.37. The stock’s 50 day moving average price is $152.74 and its two-hundred day moving average price is $131.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $164.05.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.76 EPS. As a group, analysts anticipate that Mohawk Industries will post 10 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Rodney David Patton sold 755 shares of the stock in a transaction 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 owns 12,299 shares in the company, valued at $2,002,031.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock valued at $673,387 in the last ninety days. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MHK. Quest Partners LLC grew its holdings in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Quarry LP grew its holdings in shares of Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth $50,000. Quent Capital LLC grew its holdings in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth $68,000. Institutional investors own 78.98% of the company’s stock.

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.