Mohawk Industries, Inc. (NYSE:MHK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $140.00.

Several analysts have recently commented on MHK shares. Royal Bank of Canada reduced their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating on the stock in a research report on Monday, May 5th. Evercore ISI reduced their price target on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a “hold” rating and a $121.00 price target on the stock.

Mohawk Industries Trading Down 1.2%

MHK opened at $101.12 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company’s 50 day simple moving average is $107.16 and its two-hundred day simple moving average is $118.67. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company posted $1.86 EPS. The business’s revenue was down 5.7% on a year-over-year basis. Analysts expect that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of the business. Citadel Investment Advisory Inc. grew its stake in shares of Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company’s stock worth $1,467,000 after purchasing an additional 100 shares in the last quarter. Huntington National Bank grew its stake in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after purchasing an additional 119 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Mohawk Industries by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company’s stock worth $3,054,000 after purchasing an additional 120 shares in the last quarter. M&T Bank Corp grew its stake in shares of Mohawk Industries by 3.8% during the first quarter. M&T Bank Corp now owns 3,315 shares of the company’s stock worth $378,000 after purchasing an additional 122 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Mohawk Industries by 3.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company’s stock worth $457,000 after purchasing an additional 126 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.