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

Mohawk Industries, Inc. (NYSE:MHK) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $118.75.

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upped their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $98.00 to $152.00 in a research note on Monday, February 12th. Truist Financial increased their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MHK. Caxton Associates LP acquired a new position in Mohawk Industries in the 3rd quarter valued at about $1,170,000. Northern Trust Corp lifted its position in Mohawk Industries by 4.0% in the third quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock valued at $51,275,000 after buying an additional 23,070 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $397,000. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after purchasing an additional 103,813 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Mohawk Industries by 35.4% during the third quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after buying an additional 5,547 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK stock opened at $109.95 on Tuesday. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -15.89 and a beta of 1.34. The stock’s 50-day simple moving average is $119.13 and its 200-day simple moving average is $102.52.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. Mohawk Industries’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 EPS. As a group, equities analysts forecast that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

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.