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

by · The Markets Daily

Shares of Mohawk Industries, Inc. (NYSE:MHK – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $146.92.

Several equities research analysts have recently weighed in on MHK shares. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, January 8th. Evercore ISI dropped their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Truist Financial lowered their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America dropped their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Raymond James restated a “strong-buy” rating and issued a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th.

Check Out Our Latest Research Report on Mohawk Industries

Mohawk Industries Stock Performance

MHK opened at $112.60 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.05 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The stock’s 50 day moving average price is $120.91 and its two-hundred day moving average price is $135.91. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, equities analysts forecast that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Choreo LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth approximately $258,000. Meeder Asset Management Inc. boosted its stake in shares of Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after buying an additional 6,863 shares during the period. Townsend & Associates Inc grew its position in Mohawk Industries by 1.2% during the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after buying an additional 3,078 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mohawk Industries during the 4th quarter worth $997,000. Finally, JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

About Mohawk Industries

(Get Free Report

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.

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