Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Target Price at $155.85

Mohawk Industries, Inc. (NYSE:MHK) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $155.00.

A number of equities analysts have weighed in on MHK shares. Royal Bank of Canada decreased their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $151.00 to $161.00 in a report on Friday, January 10th. Barclays decreased their target price on shares of Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group cut their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the sale, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the company. Quest Partners LLC boosted its holdings in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Mohawk Industries by 22.5% during the second quarter. Daiwa Securities Group Inc. now owns 2,131 shares of the company’s stock valued at $242,000 after purchasing an additional 391 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Mohawk Industries by 12.8% in the second quarter. Envestnet Asset Management Inc. now owns 61,360 shares of the company’s stock worth $6,970,000 after purchasing an additional 6,984 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Mohawk Industries in the 2nd quarter worth about $85,997,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Mohawk Industries by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,260 shares of the company’s stock valued at $484,000 after buying an additional 661 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $129.31 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The company’s 50-day moving average is $128.74 and its 200 day moving average is $140.14.

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.