Mohawk Industries (NYSE:MHK) Upgraded at Robert W. Baird

Mohawk Industries (NYSE:MHK) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “overweight” rating in a report released on Monday, MarketBeat reports. The brokerage currently has a $196.00 price target on the stock, up from their prior price target of $160.00. Robert W. Baird’s target price indicates a potential upside of 28.16% from the company’s previous close.

Several other research firms have also commented on MHK. JPMorgan Chase & Co. boosted their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Loop Capital upped their price objective on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, 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 note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $152.93 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $154.60 and its two-hundred day moving average is $133.35. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $164.29. The company has a market capitalization of $9.77 billion, a PE ratio of -23.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

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

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. 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 this hyperlink. In related news, insider Suzanne L. Helen sold 700 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were 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 owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,415 shares of company stock valued at $673,387. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its stake in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Mohawk Industries in the 2nd quarter worth approximately $50,000. Blue Trust Inc. grew its stake in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the period. Quent Capital LLC grew 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 during the period. Finally, AM Squared Ltd purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at approximately $68,000. 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.