Mohawk Industries, Inc. (NYSE:MHK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Mohawk Industries, Inc. (NYSE:MHK) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $146.92.

A number of equities research analysts have commented on MHK shares. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. dropped their target price on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Bank of America reduced their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the transaction, the insider now owns 104,084 shares of the company’s stock, valued at $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 bought and sold shares of the company. FMR LLC boosted its position in shares of Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the last quarter. Norges Bank acquired a new stake in Mohawk Industries in the 4th quarter valued at $61,171,000. Millennium Management LLC raised its holdings in shares of Mohawk Industries by 66.2% during the 4th quarter. Millennium Management LLC now owns 898,322 shares of the company’s stock valued at $107,017,000 after buying an additional 357,687 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after purchasing an additional 354,656 shares during the period. Finally, American Century Companies Inc. increased its stake in Mohawk Industries by 48.7% during the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after buying an additional 313,897 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Down 2.2 %

NYSE MHK opened at $110.95 on Friday. The firm’s fifty day moving average is $120.67 and its two-hundred day moving average is $135.43. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29. 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 firm has a market cap of $6.94 billion, a PE ratio of 13.65, a P/E/G ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results 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 expect that Mohawk Industries will post 9.8 earnings per share for the current year.

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.