Mohawk Industries (NYSE:MHK) Upgraded at StockNews.com

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $160.00 to $196.00 in a report on Monday, October 21st. 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 reduced their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Truist Financial dropped their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Loop Capital reduced their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $158.92.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $118.06 on Thursday. The firm has a 50-day moving average of $130.32 and a two-hundred day moving average of $139.53. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.41 and a beta of 1.41. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently bought and sold shares of MHK. Dimensional Fund Advisors LP boosted its stake in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Mohawk Industries by 2.5% in 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. FMR LLC boosted its position in Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp grew its holdings in Mohawk Industries by 1.3% during the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after purchasing an additional 23,016 shares during the last quarter. Finally, Select Equity Group L.P. raised its position in shares of Mohawk Industries by 8.5% in the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after purchasing an additional 132,879 shares during the period. 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.