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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $117.56.

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Truist Financial raised their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Finally, Royal Bank of Canada raised their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, February 12th.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $111.72 on Tuesday. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a 50 day simple moving average of $119.29 and a two-hundred day simple moving average of $101.61. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -16.14 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78.

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

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Shapiro Capital Management LLC bought a new stake in Mohawk Industries in the 1st quarter valued at $96,936,000. Pacer Advisors Inc. increased its holdings in Mohawk Industries by 1,152.0% in the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares during the last quarter. Norges Bank bought a new stake in Mohawk Industries in the 4th quarter valued at $68,050,000. Ariel Investments LLC increased its holdings in Mohawk Industries by 26.8% in the 1st quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock valued at $214,040,000 after acquiring an additional 364,085 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 14.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock valued at $254,543,000 after acquiring an additional 317,278 shares during the last quarter. Hedge funds and other 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.