Mohawk Industries (NYSE:MHK) Raised to Outperform at Wolfe Research

Mohawk Industries (NYSE:MHK) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage presently has a $150.00 price objective on the stock. Wolfe Research’s target price points to a potential upside of 26.93% from the stock’s previous close.

Several other brokerages also recently issued reports on MHK. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Truist Financial reduced their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Barclays dropped their target price on shares of 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. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.46.

Mohawk Industries Trading Up 0.8 %

Shares of MHK stock opened at $118.18 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The stock has a fifty day simple moving average of $130.97 and a two-hundred day simple moving average of $139.41. The firm has a market capitalization of $7.46 billion, a PE ratio of 13.38, a PEG ratio of 1.41 and a beta of 1.41. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MHK. Quest Partners LLC lifted its stake in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries during the third quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of Mohawk Industries during the second quarter valued at $50,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries in the third quarter worth about $55,000. Finally, Blue Trust Inc. lifted its holdings in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares in the last quarter. 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.