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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $155.00.

A number of research firms have commented on MHK. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reduced their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $151.00 to $161.00 in a research note on Friday, January 10th. Finally, Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st.

Insider Buying and Selling at Mohawk Industries

In related 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quest Partners LLC increased its stake in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the third quarter worth approximately $55,000. Blue Trust Inc. raised its stake in Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Mohawk Industries in the third quarter valued at approximately $61,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

NYSE MHK opened at $129.31 on Thursday. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.16 billion, a P/E ratio of 14.64, a PEG ratio of 1.15 and a beta of 1.41. The company’s 50-day simple moving average is $128.41 and its 200 day simple moving average is $140.49.

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.