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

Mohawk Industries, Inc. (NYSE:MHK) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $133.8333.

A number of research firms recently issued reports on MHK. Evercore ISI dropped their target price on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 19th. Wolfe Research downgraded shares of Mohawk Industries from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Vertical Research initiated coverage on shares of Mohawk Industries in a report on Monday, October 20th. They set a “buy” rating on the stock. Barclays set a $121.00 target price on Mohawk Industries in a research note on Monday, December 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $150.00 price target (up from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 3,500 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $110.36, for a total transaction of $386,260.00. Following the completion of the sale, the insider directly owned 70,593 shares of the company’s stock, valued at $7,790,643.48. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 17,600 shares of company stock valued at $1,945,754 over the last 90 days. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new position in Mohawk Industries during the 3rd quarter valued at $25,000. Quent Capital LLC purchased a new stake in shares of Mohawk Industries in the third quarter valued at about $33,000. MTM Investment Management LLC bought a new position in shares of Mohawk Industries during the second quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its holdings in Mohawk Industries by 5,385.7% during the third quarter. SJS Investment Consulting Inc. now owns 384 shares of the company’s stock worth $50,000 after purchasing an additional 377 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Mohawk Industries during the third quarter worth about $52,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Down 3.6%

NYSE MHK opened at $120.75 on Monday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.15 and a beta of 1.22. The business has a 50 day simple moving average of $112.80 and a 200 day simple moving average of $119.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 1.24. Mohawk Industries has a one year low of $96.24 and a one year high of $143.13.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.Mohawk Industries’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 earnings per share. Research analysts expect that Mohawk Industries will post 9.8 earnings per share for the current year.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.