Deutsche Bank Aktiengesellschaft Begins Coverage on Mohawk Industries (NYSE:MHK)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries (NYSE:MHK) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “hold” rating and a $121.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 3.21% from the company’s current price.

Other equities analysts have also issued reports about the company. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, January 8th. Loop Capital reduced their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a report on Monday, February 10th. Raymond James reissued a “strong-buy” rating and set a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Robert W. Baird lowered their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $145.07.

Mohawk Industries Stock Up 1.9 %

Shares of NYSE MHK opened at $117.24 on Tuesday. Mohawk Industries has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market cap of $7.34 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.44 and a beta of 1.44. The firm has a 50 day moving average price of $118.12 and a 200 day moving average price of $131.53.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Analysts expect that Mohawk Industries will post 9.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MHK. 111 Capital acquired a new stake in Mohawk Industries during the 4th quarter valued at $380,000. QSM Asset Management Ltd bought a new stake in shares of Mohawk Industries during the 4th quarter worth about $6,002,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mohawk Industries in the 4th quarter valued at about $1,564,000. Jefferies Financial Group Inc. bought a new position in Mohawk Industries in the 4th quarter valued at about $799,000. Finally, Forum Financial Management LP bought a new position in Mohawk Industries in the 4th quarter valued at about $273,000. 78.98% of the stock is currently owned by institutional investors.

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.