Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Target Price at $159.17

Mohawk Industries, Inc. (NYSE:MHK) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $159.17.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barclays cut their target price on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th.

Mohawk Industries Stock Up 0.5 %

Mohawk Industries stock opened at $120.19 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The company has a 50-day simple moving average of $137.52 and a 200-day simple moving average of $139.20. The firm has a market capitalization of $7.59 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.41 and a beta of 1.38.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,078 shares of company stock valued at $2,474,347 over the last three months. 17.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in MHK. Signaturefd LLC grew its position in Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after acquiring an additional 76 shares in the last quarter. Quest Partners LLC raised its holdings in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Mohawk Industries by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after acquiring an additional 100 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after acquiring an additional 107 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Mohawk Industries by 7.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.