Mohawk Industries (NYSE:MHK) Upgraded at Baird R W

Baird R W upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $160.00 to $196.00 in a research report on Monday. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Trading Down 0.8 %

Shares of MHK opened at $151.70 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $164.29. The firm has a 50-day moving average price of $154.76 and a 200 day moving average price of $133.48. The firm has a market capitalization of $9.69 billion, a P/E ratio of -23.20, a P/E/G ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. Sell-side analysts forecast that Mohawk Industries will post 10 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the sale, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,415 shares of company stock worth $673,387. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Mohawk Industries by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after buying an additional 17,541 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after buying an additional 292,661 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Mohawk Industries by 8.5% during the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after buying an additional 132,879 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after buying an additional 360,628 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Mohawk Industries by 10.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after buying an additional 96,174 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.