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 report report published on Thursday.

Several other research analysts have also weighed in on the company. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial reduced their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Jefferies Financial Group raised their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays decreased their price objective on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and an average target price of $158.46.

Mohawk Industries Trading Up 0.8 %

Shares of NYSE MHK opened at $118.18 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The business has a 50-day moving average price of $130.97 and a two-hundred day moving average price of $139.41. The firm has a market capitalization of $7.46 billion, a PE ratio of 13.38, a PEG ratio of 1.41 and a beta of 1.41.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now directly owns 2,453 shares of the company’s stock, valued at $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 19,078 shares of company stock worth $2,474,347 in the last quarter. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Mohawk Industries

Several large investors have recently made changes to their positions in MHK. Quest Partners LLC grew its holdings in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Mohawk Industries in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. lifted its holdings in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares in 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.