Mohawk Industries (NYSE:MHK) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries (NYSE:MHK - Free Report) in a research report released on Tuesday, MarketBeat reports. The brokerage issued a hold rating and a $121.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird lowered their target price on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target 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, February 10th. Evercore ISI decreased their target price 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. Truist Financial dropped their target price on Mohawk Industries from $155.00 to $148.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Loop Capital lowered their price target on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating for the company in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target of $145.07.

Remove Ads

Mohawk Industries Price Performance

Shares of MHK traded up $2.23 during trading hours on Tuesday, reaching $117.24. The company had a trading volume of 467,834 shares, compared to its average volume of 724,306. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.44 and a beta of 1.44. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The firm has a 50 day simple moving average of $118.12 and a 200-day simple moving average of $131.53. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share 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%. Research analysts expect that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.10% of the company's stock.

Institutional Trading of Mohawk Industries

Several large investors have recently modified their holdings of MHK. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the 4th quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries during the 3rd quarter valued at $55,000. Versant Capital Management Inc grew its stake in 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. R Squared Ltd bought a new stake in Mohawk Industries in the fourth quarter valued at about $66,000. Finally, Huntington National Bank raised its stake in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.