Mohawk Industries (NYSE:MHK) Earns Strong-Buy Rating from Raymond James

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

MHK has been the topic of several other research reports. Bank of America dropped their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird reduced their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research report on Monday. Loop Capital lowered their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Royal Bank of Canada lowered their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Finally, StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Trading Up 1.6 %

Mohawk Industries stock opened at $119.32 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The company has a 50 day moving average price of $123.61 and a 200 day moving average price of $140.24. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.60 and a beta of 1.41.

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, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. Research analysts forecast that Mohawk Industries will post 10.71 EPS for the current year.

Insider Transactions at Mohawk Industries

In other 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 transaction, the insider now directly owns 104,084 shares of the company’s stock, valued at $13,126,033.24. This represents a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in shares of Mohawk Industries by 8.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after acquiring an additional 6,863 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock valued at $14,056,000 after purchasing an additional 14,480 shares during the period. Cerity Partners LLC acquired a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $1,935,000. Finally, Pacer Advisors Inc. raised its position in shares of Mohawk Industries by 106.7% during the 4th quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock worth $984,000 after purchasing an additional 4,264 shares during the last quarter. 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.