Mohawk Industries, Inc. (NYSE:MHK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the company, MarketBeat.com reports. Four investment 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 company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $155.00.

MHK has been the subject of several research reports. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group raised their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $151.00 to $161.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last ninety days. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently bought and sold shares of MHK. Parkside Investments LLC lifted its stake in Mohawk Industries by 40.0% in the fourth quarter. Parkside Investments LLC now owns 7,000 shares of the company’s stock worth $834,000 after acquiring an additional 2,000 shares during the period. Pacer Advisors Inc. lifted its position in shares of Mohawk Industries by 106.7% in 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 period. KBC Group NV boosted its stake in shares of Mohawk Industries by 11.1% during the 4th quarter. KBC Group NV now owns 8,203 shares of the company’s stock valued at $977,000 after purchasing an additional 819 shares in the last quarter. Olstein Capital Management L.P. increased its position in shares of Mohawk Industries by 30.4% during the fourth quarter. Olstein Capital Management L.P. now owns 70,000 shares of the company’s stock valued at $8,339,000 after buying an additional 16,300 shares during the period. Finally, Polianta Ltd raised its stake in Mohawk Industries by 23.0% in the fourth quarter. Polianta Ltd now owns 9,100 shares of the company’s stock worth $1,084,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK opened at $130.64 on Thursday. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The firm has a 50-day moving average of $127.97 and a 200 day moving average of $140.58. 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 firm has a market cap of $8.25 billion, a P/E ratio of 14.80, a PEG ratio of 1.26 and a beta of 1.41.

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.