Mohawk Industries, Inc. (NYSE:MHK) Receives $156.00 Average PT from Brokerages

Shares of Mohawk Industries, Inc. (NYSE:MHK) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $156.00.

MHK has been the topic of a number of research reports. Robert W. Baird lifted their price target on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their target price on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target for the company in a research note on Monday, June 10th. Barclays lifted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and increased their target price for the company from $120.00 to $177.00 in a research report on Friday, July 26th.

Mohawk Industries Stock Performance

NYSE MHK opened at $158.17 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.05. The business has a 50-day moving average price of $147.37 and a 200-day moving average price of $127.66. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -24.19, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results 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. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.76 EPS. As a group, equities research analysts predict that Mohawk Industries will post 10 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC boosted its holdings in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares during the period. Quarry LP raised its position in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Mohawk Industries in the 2nd quarter worth $50,000. Quent Capital LLC grew its position in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after buying an additional 106 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Mohawk Industries during the second quarter valued at $68,000. 78.98% of the stock is currently owned by 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.