Mohawk Industries (NYSE:MHK) Upgraded at StockNews.com

Mohawk Industries (NYSE:MHK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

MHK has been the subject of several other reports. Barclays decreased their price objective on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of 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. Royal Bank of Canada cut their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Truist Financial lowered their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $158.46.

Mohawk Industries Stock Up 0.8 %

NYSE:MHK traded up $0.88 during mid-day trading on Thursday, hitting $118.18. 607,798 shares of the company’s stock traded hands, compared to its average volume of 638,919. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a market capitalization of $7.46 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.41 and a beta of 1.41. The company has a fifty day moving average of $130.97 and a 200 day moving average of $139.41. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the sale, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 in the last three months. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after purchasing an additional 223 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 buying an additional 74,123 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Mohawk Industries by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock worth $9,918,000 after buying an additional 2,601 shares during the last quarter. Franklin Resources Inc. increased its stake in Mohawk Industries by 32.8% during the 3rd quarter. Franklin Resources Inc. now owns 37,162 shares of the company’s stock worth $5,878,000 after buying an additional 9,173 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Mohawk Industries by 9.4% during the third quarter. Tidal Investments LLC now owns 13,810 shares of the company’s stock valued at $2,219,000 after acquiring an additional 1,188 shares during the last quarter. Institutional investors and hedge funds 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.