Mohawk Industries (NYSE:MHK) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Wednesday, ValuEngine reports.

MHK has been the subject of several other reports. SunTrust Banks upped their price objective on Mohawk Industries to $150.00 and gave the company a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Buckingham Research started coverage on Mohawk Industries in a research note on Friday, February 1st. They set an “underperform” rating and a $116.00 price objective for the company. Wells Fargo & Co upped their price objective on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Monday, February 11th. Finally, Loop Capital upped their price objective on Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research note on Friday, February 8th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Mohawk Industries has a consensus rating of “Hold” and a consensus target price of $152.76.

MHK traded up $1.76 on Wednesday, hitting $135.97. 536,488 shares of the company traded hands, compared to its average volume of 882,362. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 0.20. The company has a market cap of $9.50 billion, a PE ratio of 11.03, a P/E/G ratio of 2.37 and a beta of 1.53. Mohawk Industries has a 12-month low of $109.35 and a 12-month high of $228.49.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 25th. The company reported $2.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.06. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.01 EPS. As a group, sell-side analysts expect that Mohawk Industries will post 10.77 EPS for the current fiscal year.

In other news, VP Rodney David Patton sold 2,260 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total transaction of $301,710.00. Following the completion of the transaction, the vice president now directly owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 18.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Legal & General Group Plc increased its stake in Mohawk Industries by 11.4% in the 3rd quarter. Legal & General Group Plc now owns 330,596 shares of the company’s stock valued at $57,970,000 after purchasing an additional 33,749 shares in the last quarter. Vanguard Group Inc increased its stake in Mohawk Industries by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after purchasing an additional 29,538 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Mohawk Industries by 20.0% in the 4th quarter. State of Alaska Department of Revenue now owns 18,570 shares of the company’s stock valued at $2,170,000 after purchasing an additional 3,092 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Mohawk Industries by 6.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 3,555 shares of the company’s stock valued at $416,000 after purchasing an additional 211 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new position in Mohawk Industries in the 4th quarter valued at approximately $37,103,000. 81.58% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

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

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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