Mohawk Industries (NYSE:MHK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research report released on Thursday.

MHK has been the topic of a number of other research reports. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Wednesday. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Loop Capital reduced their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price objective on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.92.

Mohawk Industries Stock Performance

MHK opened at $118.06 on Thursday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $130.32 and its two-hundred day moving average price is $139.53. The firm has a market capitalization of $7.45 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. Mohawk Industries has a 12-month low of $96.28 and a 12-month high of $164.29.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors have recently bought and sold shares of the business. Quest Partners LLC increased its stake in shares of Mohawk Industries by 40.0% in 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. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries in the 3rd quarter valued at about $36,000. Headlands Technologies LLC bought a new position in shares of Mohawk Industries in the second quarter worth about $50,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries during the third quarter worth approximately $55,000. Finally, Blue Trust Inc. grew its stake in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. Institutional investors 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.