Mohawk Industries, Inc. (NYSE:MHK) Given Average Rating of “Hold” by Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) have been given an average recommendation of “Hold” by the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $139.15.

A number of analysts have recently issued reports on MHK shares. Wells Fargo & Company dropped their price target on Mohawk Industries from $137.00 to $132.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. dropped their price target on Mohawk Industries from $156.00 to $129.00 in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research report on Wednesday, August 17th. They issued a “hold” rating and a $122.00 target price for the company. Royal Bank of Canada dropped their target price on Mohawk Industries from $112.00 to $101.00 and set an “underperform” rating for the company in a research report on Monday, August 1st. Finally, Evercore ISI dropped their target price on Mohawk Industries to $152.00 in a research report on Tuesday, August 9th.

Mohawk Industries Stock Down 1.3 %

MHK stock opened at $99.85 on Monday. The firm has a market capitalization of $6.34 billion, a PE ratio of 6.70, a PEG ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 0.79, a current ratio of 1.51 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $119.46 and a two-hundred day simple moving average of $128.09. Mohawk Industries has a twelve month low of $99.20 and a twelve month high of $199.37.

Mohawk Industries (NYSE:MHKGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.12. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Mohawk Industries had a return on equity of 11.71% and a net margin of 8.39%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $4.45 EPS. On average, equities analysts predict that Mohawk Industries will post 14.49 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 6,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $112.30, for a total value of $707,490.00. Following the completion of the sale, the insider now owns 25,953 shares in the company, valued at $2,914,521.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently made changes to their positions in MHK. Covestor Ltd purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $25,000. Bogart Wealth LLC purchased a new position in shares of Mohawk Industries during the second quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Mohawk Industries during the second quarter valued at approximately $28,000. CWM LLC grew its stake in Mohawk Industries by 44.3% in the first quarter. CWM LLC now owns 280 shares of the company’s stock worth $35,000 after purchasing an additional 86 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in Mohawk Industries by 150.0% in the second quarter. First Horizon Advisors Inc. now owns 365 shares of the company’s stock worth $44,000 after purchasing an additional 219 shares during the period. 75.99% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Company Profile

(Get Rating)

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Further Reading

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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