Mohawk Industries, Inc. (NYSE:MHK) Given Average Recommendation of “Moderate Buy” by Brokerages

Mohawk Industries, Inc. (NYSE:MHK) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $156.00.

Several equities analysts recently issued reports on MHK shares. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a research report on Monday, June 10th. Wells Fargo & Company lifted their target price on Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Robert W. Baird upped their target price on Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Truist Financial raised their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction dated 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 sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Rodney David Patton sold 755 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock valued at $673,387 over the last ninety days. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth about $85,997,000. Norges Bank acquired a new stake in Mohawk Industries during the fourth quarter worth approximately $68,050,000. Pacer Advisors Inc. lifted its position in shares of Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after buying an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after buying an additional 292,661 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Mohawk Industries by 1,464.0% in the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Up 1.1 %

Shares of MHK opened at $150.08 on Friday. 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 business has a fifty day moving average of $142.22 and a 200 day moving average of $126.13. The company has a market cap of $9.58 billion, a PE ratio of -22.95, a P/E/G ratio of 1.15 and a beta of 1.37. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $164.05.

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

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.