Mohawk Industries, Inc. (NYSE:MHK) Receives $117.56 Average PT from Brokerages

Mohawk Industries, Inc. (NYSE:MHK) has been given a consensus rating of “Hold” by the nine ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $117.56.

A number of brokerages have recently commented on MHK. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Barclays increased their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th.

Mohawk Industries Trading Up 1.5 %

Shares of MHK stock opened at $130.89 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of -18.91 and a beta of 1.33. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a 50-day simple moving average of $114.64 and a two-hundred day simple moving average of $98.75.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.32 EPS. Research analysts anticipate that Mohawk Industries will post 9.59 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its holdings in shares of Mohawk Industries by 1.0% in the fourth quarter. Quadrature Capital Ltd now owns 37,141 shares of the company’s stock worth $3,844,000 after buying an additional 350 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Mohawk Industries by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,769 shares of the company’s stock worth $597,000 after purchasing an additional 184 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Mohawk Industries by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company’s stock worth $645,854,000 after purchasing an additional 39,143 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Mohawk Industries by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock worth $31,349,000 after acquiring an additional 98,920 shares during the period. Finally, Speece Thorson Capital Group Inc. boosted its holdings in shares of Mohawk Industries by 0.7% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 129,223 shares of the company’s stock valued at $13,375,000 after buying an additional 862 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.