Raymond James Reaffirms “Strong-Buy” Rating for Mohawk Industries (NYSE:MHK)

Mohawk Industries (NYSE:MHK)‘s stock had its “strong-buy” rating reaffirmed by analysts at Raymond James in a report issued on Monday,Benzinga reports. They presently have a $165.00 target price on the stock, down from their prior target price of $185.00. Raymond James’ price target would indicate a potential upside of 38.28% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Robert W. Baird cut their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Wednesday, January 8th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Loop Capital dropped their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Stock Up 1.6 %

Shares of NYSE:MHK opened at $119.32 on Monday. The firm’s 50-day moving average is $123.61 and its two-hundred day moving average is $140.24. The firm has a market capitalization of $7.53 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 1 year low of $104.88 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Analysts predict that Mohawk Industries will post 10.71 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $294,000. Vanguard Group Inc. lifted its position in Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock valued at $742,154,000 after buying an additional 20,327 shares in the last quarter. LPL Financial LLC grew its stake in Mohawk Industries by 11.3% during the fourth quarter. LPL Financial LLC now owns 12,569 shares of the company’s stock worth $1,497,000 after buying an additional 1,273 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Mohawk Industries in the 4th quarter valued at $1,310,000. Finally, AXQ Capital LP lifted its holdings in shares of Mohawk Industries by 54.6% during the 4th quarter. AXQ Capital LP now owns 4,147 shares of the company’s stock valued at $494,000 after acquiring an additional 1,465 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other 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.