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. Raymond James reissued a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Bank of America decreased their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Robert W. Baird cut their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Finally, Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Stock Down 0.9 %

Mohawk Industries stock traded down $1.03 during trading hours on Monday, hitting $115.98. The stock had a trading volume of 697,867 shares, compared to its average volume of 692,423. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.26 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The stock’s 50-day moving average price is $120.96 and its 200-day moving average price is $136.15.

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%. Equities research analysts anticipate that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the transaction, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 17,078 shares of company stock worth $2,203,387 over the last three months. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC bought a new position in shares of Mohawk Industries during the third quarter worth $36,000. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the fourth quarter worth $41,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries during the third quarter worth $55,000. True Wealth Design LLC bought a new position in shares of Mohawk Industries during the third quarter worth $61,000. Finally, Versant Capital Management Inc boosted its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

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.