Mohawk Industries (NYSE:MHK) Raised to “Strong-Buy” at Baird R W

Baird R W upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a strong-buy rating in a research report released on Monday, Zacks.com reports.

Other research analysts have also issued research reports about the stock. Truist Financial lifted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Royal Bank of Canada lifted their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Loop Capital lifted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Mohawk Industries Stock Up 0.1 %

Mohawk Industries stock opened at $151.87 on Monday. The company’s 50 day simple moving average is $154.86 and its 200 day simple moving average is $133.61. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $164.29. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of -23.22, a PEG ratio of 1.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm earned $2.76 EPS. Mohawk Industries’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mohawk Industries will post 10 EPS for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,300 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the sale, the insider now directly owns 119,369 shares in the company, valued at $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 over the last ninety days. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC boosted its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the period. Blue Trust Inc. boosted its position in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the period. Headlands Technologies LLC bought a new position in Mohawk Industries during the second quarter worth $50,000. Quent Capital LLC boosted its position in Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares during the period. Finally, AM Squared Ltd bought a new position in Mohawk Industries during the second quarter worth $68,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.