Mohawk Industries (NYSE:MHK) Receives “Strong-Buy” Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Mohawk Industries (NYSE:MHK) in a report issued on Monday,Benzinga reports. The firm currently has a $165.00 price target on the stock, down from their previous price target of $185.00.

Several other equities research analysts also recently weighed in on MHK. Loop Capital cut their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Wells Fargo & Company dropped their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Truist Financial dropped their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday. Six 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $116.77 on Monday. The stock’s 50-day moving average is $123.32 and its two-hundred day moving average is $140.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Analysts forecast that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Mohawk Industries

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after purchasing an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares in the last quarter. Natixis Advisors LLC increased its stake in Mohawk Industries by 19.8% in the 3rd 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 in the last quarter. Pacer Advisors Inc. increased its stake in Mohawk Industries by 106.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock valued at $984,000 after purchasing an additional 4,264 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Mohawk Industries in the 3rd quarter valued at approximately $1,935,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.