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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $157.67.

A number of equities research analysts have commented on the company. Truist Financial lifted their target price on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Barclays lifted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective for the company in a research note on Monday, June 10th.

Mohawk Industries Stock Performance

Shares of NYSE:MHK opened at $155.20 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The business’s 50 day moving average price is $152.81 and its 200-day moving average price is $130.88. The firm has a market capitalization of $9.91 billion, a PE ratio of -23.73, a P/E/G ratio of 1.23 and a beta of 1.37. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $164.05.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the business posted $2.76 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect 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 2,300 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the sale, the insider now directly owns 119,369 shares of the company’s stock, valued at $18,042,624.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock valued at $673,387 in the last ninety days. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently added to or reduced their stakes in the business. Quest Partners LLC increased its stake 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 increased its stake 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 purchased a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $50,000. Quent Capital LLC increased its stake 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 purchased a new position in shares of Mohawk Industries during the 2nd quarter worth approximately $68,000. 78.98% of the stock is 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.