StockNews.com Upgrades Mohawk Industries (NYSE:MHK) to Buy

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

A number of other equities research analysts also recently issued reports on the company. Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Jefferies Financial Group raised their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada cut their price objective on shares of 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. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Loop Capital cut their price target on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $158.46.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded up $0.88 during trading hours on Thursday, reaching $118.18. The company’s stock had a trading volume of 607,798 shares, compared to its average volume of 638,919. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The firm has a 50 day moving average price of $130.97 and a 200-day moving average price of $139.41. The stock has a market cap 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.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the business. Quest Partners LLC boosted its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in Mohawk Industries during the third quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Mohawk Industries during the second quarter valued at about $50,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries in the third quarter valued at about $55,000. Finally, Blue Trust Inc. lifted its position in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the last quarter. 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.