Mohawk Industries, Inc. (NYSE:MHK) Receives $146.92 Consensus Target Price from Brokerages

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $145.07.

Several brokerages have issued reports on MHK. Wolfe Research raised Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Bank of America lowered their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, Evercore ISI cut 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 report on Monday, February 10th.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.10% of the stock is owned by insiders.

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Institutional Investors Weigh In On Mohawk Industries

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Mohawk Industries by 165.9% in the 1st quarter. Versant Capital Management Inc now owns 1,428 shares of the company's stock valued at $163,000 after buying an additional 891 shares during the period. 111 Capital acquired a new position in Mohawk Industries in the fourth quarter valued at approximately $380,000. QSM Asset Management Ltd purchased a new stake in Mohawk Industries in the 4th quarter worth approximately $6,002,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $1,564,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $799,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Down 2.1 %

NYSE:MHK traded down $2.29 during midday trading on Tuesday, hitting $105.55. The stock had a trading volume of 981,113 shares, compared to its average volume of 730,561. The stock has a 50-day moving average of $117.26 and a 200 day moving average of $130.85. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.44 and a beta of 1.44. Mohawk Industries has a one year low of $100.56 and a one year high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, sell-side analysts forecast that Mohawk Industries will post 9.8 EPS for the current 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.