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

Mohawk Industries (NYSE:MHK) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group lowered their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Loop Capital lowered their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Evercore ISI lowered their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Trading Down 0.9 %

MHK stock traded down $1.03 during trading on Monday, hitting $115.98. The company had a trading volume of 697,867 shares, compared to its average volume of 692,423. The firm has a market capitalization of $7.26 billion, a P/E ratio of 14.27, a PEG ratio of 1.44 and a beta of 1.44. Mohawk Industries has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a 50 day simple moving average of $120.96 and a 200-day simple moving average of $136.15. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. As a group, research analysts forecast that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $127.75, for a total transaction of $511,000.00. Following the transaction, the insider now owns 108,084 shares of the company’s stock, valued at approximately $13,807,731. The trade was a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 17,078 shares of company stock valued at $2,203,387. 17.10% of the stock is owned by company insiders.

Institutional Trading of Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC purchased a new stake in Mohawk Industries during the fourth quarter worth about $258,000. Meeder Asset Management Inc. boosted its holdings in Mohawk Industries by 8.8% in the third 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. Townsend & Associates Inc boosted its holdings in Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock valued at $34,382,000 after purchasing an additional 3,078 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Mohawk Industries in the fourth quarter valued at approximately $997,000. Finally, JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 2.5% in the third 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. 78.98% of the stock is currently 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.