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

Mohawk Industries, Inc. (NYSE:MHKGet Rating) has received a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $123.08.

A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Mohawk Industries in a report on Thursday, May 18th. They issued a “hold” rating for the company. Credit Suisse Group reduced their target price on Mohawk Industries from $109.00 to $103.00 in a report on Monday, March 20th. Loop Capital raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, April 11th. Bank of America cut their price target on Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a research note on Wednesday, April 19th. Finally, Barclays lifted their price target on Mohawk Industries from $83.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, February 13th.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,250 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $103.23, for a total value of $438,727.50. Following the completion of the transaction, the insider now owns 13,453 shares of the company’s stock, valued at approximately $1,388,753.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new stake in shares of Mohawk Industries during the 4th quarter worth about $27,000. Gyon Technologies Capital Management LP purchased a new stake in shares of Mohawk Industries during the 4th quarter worth about $30,000. Rockefeller Capital Management L.P. grew its holdings in shares of Mohawk Industries by 143.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock worth $31,000 after purchasing an additional 181 shares during the period. Sentry Investment Management LLC grew its holdings in shares of Mohawk Industries by 75.6% during the 4th quarter. Sentry Investment Management LLC now owns 339 shares of the company’s stock worth $35,000 after purchasing an additional 146 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Mohawk Industries by 100.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 400 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK opened at $95.10 on Friday. The firm’s fifty day moving average price is $97.26 and its 200 day moving average price is $103.35. Mohawk Industries has a 1-year low of $87.01 and a 1-year high of $142.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.83 and a quick ratio of 1.00. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of -42.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.27.

Mohawk Industries (NYSE:MHKGet Rating) last released its earnings results on Thursday, April 27th. The company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.47. Mohawk Industries had a positive return on equity of 8.47% and a negative net margin of 1.21%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company earned $3.78 earnings per share. Mohawk Industries’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Mohawk Industries will post 9.48 EPS for the current year.

Mohawk Industries Company Profile

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Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment manufactures ceramic, porcelain, and natural stone tile products used for wall and floor applications.

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