Mohawk Industries (NYSE:MHK) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a strong-buy rating in a report published on Monday, Zacks.com reports.

MHK has been the subject of several other research reports. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the company from $160.00 to $196.00 in a report on Monday. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Loop Capital increased their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Trading Up 0.1 %

Shares of Mohawk Industries stock opened at $161.25 on Monday. The company has a fifty day simple moving average of $154.48 and a 200-day simple moving average of $133.14. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $164.29. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of -24.66, a PEG ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the business posted $2.76 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Mohawk Industries will post 10 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Mohawk Industries by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after acquiring an additional 17,541 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 292,661 shares during the last quarter. Select Equity Group L.P. grew its stake in Mohawk Industries by 8.5% in the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after acquiring an additional 132,879 shares during the last quarter. Pacer Advisors Inc. grew its stake in Mohawk Industries by 42.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares during the last quarter. Finally, Brandes Investment Partners LP grew its stake in Mohawk Industries by 10.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock valued at $115,057,000 after acquiring an additional 96,174 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.