Raymond James Reiterates “Strong-Buy” Rating for Mohawk Industries (NYSE:MHK)

Mohawk Industries (NYSE:MHK)‘s stock had its “strong-buy” rating restated by investment analysts at Raymond James in a note issued to investors on Monday,Benzinga reports. They presently have a $165.00 target price on the stock, down from their prior target price of $185.00. Raymond James’ price objective suggests a potential upside of 39.19% from the stock’s current price.

Several other research analysts have also issued reports on MHK. Royal Bank of Canada cut their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Loop Capital dropped their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Wednesday, January 8th. Evercore ISI dropped their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Trading Down 1.5 %

Shares of MHK traded down $1.79 during trading hours on Monday, hitting $118.55. 343,709 shares of the stock were exchanged, compared to its average volume of 797,745. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The business has a 50-day moving average of $124.30 and a 200-day moving average of $140.65. The firm has a market capitalization of $7.48 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, research analysts expect that Mohawk Industries will post 10.71 EPS for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Mohawk Industries in the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Mohawk Industries in the third quarter worth about $55,000. Blue Trust Inc. increased its stake in shares of Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Mohawk Industries in the third quarter worth about $61,000. Finally, Versant Capital Management Inc increased its stake in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other 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.