Mohawk Industries, Inc. (NYSE:MHK) Given Average Recommendation of “Moderate Buy” by Analysts

Mohawk Industries, Inc. (NYSE:MHK) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $162.08.

A number of equities analysts recently issued reports on the company. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price target for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Barclays lowered their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Loop Capital raised their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Mohawk Industries Price Performance

Shares of MHK opened at $134.28 on Friday. Mohawk Industries has a 12-month low of $78.30 and a 12-month high of $164.29. The business’s fifty day moving average is $153.27 and its 200 day moving average is $134.06. 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 has a market cap of $8.48 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.47 and a beta of 1.37.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,300 shares of Mohawk Industries stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares in the company, valued at approximately $18,042,624.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 2,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,660 shares of company stock worth $550,488. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently modified their holdings of MHK. Massachusetts Financial Services Co. MA purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at about $85,997,000. Pacer Advisors Inc. raised its holdings 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 valued at $136,349,000 after buying an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $344,903,000 after buying an additional 292,661 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at about $21,061,000. 78.98% of the stock is 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.