Mohawk Industries, Inc. (NYSE:MHK) Given Consensus Rating of “Hold” by Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been assigned an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $118.75.

MHK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Barclays lifted their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. The Goldman Sachs Group increased their price objective on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Finally, Wells Fargo & Company lowered their target price on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $109.95 on Tuesday. The company’s 50 day moving average price is $119.13 and its two-hundred day moving average price is $102.52. The firm has a market capitalization of $7.00 billion, a P/E ratio of -15.89 and a beta of 1.34. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $1.32 EPS. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of large investors have recently bought and sold shares of the business. Intrinsic Value Partners LLC acquired a new stake in Mohawk Industries during the 1st quarter worth about $246,000. Lakewood Asset Management LLC grew its stake in shares of Mohawk Industries by 7.1% in the 1st quarter. Lakewood Asset Management LLC now owns 12,195 shares of the company’s stock valued at $1,596,000 after buying an additional 813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Mohawk Industries in the 1st quarter valued at about $1,450,000. Allspring Global Investments Holdings LLC grew its stake in shares of Mohawk Industries by 12.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 117,143 shares of the company’s stock valued at $15,333,000 after buying an additional 13,089 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in shares of Mohawk Industries in the 1st quarter valued at about $671,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.