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

Shares of Mohawk Industries, Inc. (NYSE:MHK) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $140.00.

A number of equities research analysts recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Truist Financial decreased their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th.

Mohawk Industries Trading Down 0.5%

NYSE MHK opened at $106.98 on Wednesday. The company has a market capitalization of $6.69 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29. The firm’s fifty day simple moving average is $107.92 and its 200-day simple moving average is $119.68. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Mohawk Industries’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, sell-side analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This trade represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Alyeska Investment Group L.P. lifted its stake in Mohawk Industries by 436.4% during the first quarter. Alyeska Investment Group L.P. now owns 756,030 shares of the company’s stock worth $86,324,000 after purchasing an additional 615,095 shares during the period. Sound Shore Management Inc. CT bought a new position in Mohawk Industries during the first quarter worth about $61,159,000. Norges Bank bought a new position in Mohawk Industries during the fourth quarter worth about $61,171,000. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company’s stock worth $414,017,000 after purchasing an additional 410,388 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Mohawk Industries by 66.2% during the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company’s stock worth $107,017,000 after buying an additional 357,687 shares in 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.