Mohawk Industries (NYSE:MHK) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research note released on Monday morning.

MHK has been the subject of several other research reports. Bank of America cut their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group cut their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company cut their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Raymond James reissued a “strong-buy” rating and issued a $165.00 target price (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $113.49 on Monday. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The business has a 50 day simple moving average of $120.78 and a 200-day simple moving average of $135.59. The stock has a market capitalization of $7.10 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Equities analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Activity at Mohawk Industries

In related 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 of the company’s stock, valued at $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of large investors have recently made changes to their positions in the stock. QSM Asset Management Ltd acquired a new stake in Mohawk Industries in the 4th quarter worth about $6,002,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Mohawk Industries in the 4th quarter worth about $1,564,000. Jefferies Financial Group Inc. acquired a new stake in Mohawk Industries in the 4th quarter worth about $799,000. Forum Financial Management LP acquired a new stake in Mohawk Industries in the 4th quarter worth about $273,000. Finally, Toronto Dominion Bank boosted its stake in Mohawk Industries by 2.9% in the 4th quarter. Toronto Dominion Bank now owns 20,997 shares of the company’s stock worth $2,501,000 after buying an additional 583 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.