Mohawk Industries (NYSE:MHK) Raised to “Buy” at StockNews.com

Mohawk Industries (NYSE:MHK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

MHK has been the subject of a number of other reports. Truist Financial lowered their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Loop Capital reduced their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Finally, Royal Bank of Canada lowered their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.92.

Mohawk Industries Price Performance

MHK opened at $118.06 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The stock has a fifty day simple moving average of $130.65 and a two-hundred day simple moving average of $139.26. Mohawk Industries has a 12-month low of $96.28 and a 12-month high of $164.29.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 4,000 shares of the business’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 transaction of $504,440.00. Following the completion of the sale, the insider now directly owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its holdings in Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares during the period. Maverick Capital Ltd. bought a new position in Mohawk Industries in the 2nd quarter worth $1,253,000. Natixis Advisors LLC increased its stake in Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after buying an additional 14,480 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in Mohawk Industries by 115.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock valued at $10,312,000 after acquiring an additional 48,653 shares during the period. 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.