Mohawk Industries, Inc. (NYSE:MHK) Receives Average Rating of “Moderate Buy” from Analysts

Mohawk Industries, Inc. (NYSE:MHK) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $133.8333.

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mohawk Industries in a research report on Friday, October 31st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $150.00 price target (up from $140.00) on shares of Mohawk Industries in a report on Tuesday, October 21st. Evercore ISI lowered their price objective on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating for the company in a research report on Wednesday, November 19th. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Barclays set a $121.00 price target on shares of Mohawk Industries in a report on Monday, December 8th.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 3,500 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $110.36, for a total value of $386,260.00. Following the completion of the transaction, the insider directly owned 70,593 shares in the company, valued at approximately $7,790,643.48. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 17,600 shares of company stock valued at $1,945,754. 17.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MHK. AQR Capital Management LLC raised its holdings in Mohawk Industries by 73.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company’s stock worth $200,922,000 after purchasing an additional 670,601 shares during the last quarter. Norges Bank acquired a new stake in shares of Mohawk Industries during the second quarter worth $48,276,000. Steadfast Capital Management LP raised its stake in Mohawk Industries by 96.3% during the third quarter. Steadfast Capital Management LP now owns 937,301 shares of the company’s stock worth $120,837,000 after buying an additional 459,700 shares during the last quarter. ARGA Investment Management LP lifted its holdings in Mohawk Industries by 1,508.1% in the third quarter. ARGA Investment Management LP now owns 488,741 shares of the company’s stock valued at $63,008,000 after buying an additional 458,349 shares during the period. Finally, Candlestick Capital Management LP bought a new stake in Mohawk Industries during the third quarter valued at $53,320,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Trading Down 3.6%

Shares of MHK stock opened at $120.75 on Monday. Mohawk Industries has a fifty-two week low of $96.24 and a fifty-two week high of $143.13. The stock’s fifty day moving average price is $112.80 and its two-hundred day moving average price is $119.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 2.25. The company has a market cap of $7.46 billion, a PE ratio of 17.97, a P/E/G ratio of 2.15 and a beta of 1.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the firm posted $2.90 EPS. Mohawk Industries’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.