Mohawk Industries, Inc. (NYSE:MHK) Receives $159.17 Consensus PT from Brokerages

Mohawk Industries, Inc. (NYSE:MHK) has received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $159.17.

A number of brokerages have weighed in on MHK. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Truist Financial cut their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now owns 104,084 shares of the company’s stock, valued at $13,126,033.24. This represents a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 19,078 shares of company stock valued at $2,474,347. 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. Meeder Asset Management Inc. boosted its stake in Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Mohawk Industries during the 2nd quarter worth $1,253,000. Natixis Advisors LLC grew its stake in Mohawk Industries by 19.8% in the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock valued at $14,056,000 after acquiring an additional 14,480 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in shares of Mohawk Industries by 115.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock worth $10,312,000 after acquiring an additional 48,653 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Mohawk Industries by 4.5% during the second quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock worth $103,887,000 after purchasing an additional 39,653 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

NYSE MHK opened at $120.19 on Friday. The stock has a 50-day simple moving average of $137.52 and a 200 day simple moving average of $139.20. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29. The stock has a market capitalization of $7.59 billion, a PE ratio of 13.61, a P/E/G ratio of 1.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

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.