Mohawk Industries (NYSE:MHK) Upgraded by StockNews.com to “Buy” Rating

Mohawk Industries (NYSE:MHK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts also recently commented on MHK. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Truist Financial lowered their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $151.00 to $161.00 in a research note on Friday, January 10th. Royal Bank of Canada lowered their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, The Goldman Sachs Group cut their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Mohawk Industries Trading Up 0.5 %

NYSE:MHK opened at $129.31 on Tuesday. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The business has a fifty day moving average price of $128.41 and a 200-day moving average price of $140.49. The firm 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. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. 17.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after buying an additional 6,863 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Mohawk Industries during the second quarter valued at about $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 purchasing an additional 14,480 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Mohawk Industries by 36.9% in the second quarter. Hsbc Holdings PLC now owns 68,876 shares of the company’s stock worth $7,763,000 after purchasing an additional 18,562 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

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.