Mohawk Industries, Inc. (NYSE:MHK) Given Average Rating of "Moderate Buy" by Brokerages

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $162.08.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Bank of America raised Mohawk Industries from an "underperform" rating to a "buy" rating and upped their target price for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Barclays lowered their target price on Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Baird R W raised Mohawk Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Finally, Jefferies Financial Group increased their price objective on Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 660 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares of the company's stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 2,300 shares of Mohawk Industries stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares in the company, valued at $18,042,624.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,660 shares of company stock worth $550,488 in the last 90 days. Insiders own 17.10% of the company's stock.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd lifted its stake in Mohawk Industries by 604.3% in the third quarter. Covestor Ltd now owns 810 shares of the company's stock valued at $131,000 after buying an additional 695 shares during the period. Capital Performance Advisors LLP acquired a new stake in Mohawk Industries in the third quarter worth $73,000. Principal Financial Group Inc. increased its stake in Mohawk Industries by 4.4% in the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company's stock valued at $9,918,000 after purchasing an additional 2,601 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Mohawk Industries during the third quarter valued at about $303,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Mohawk Industries by 19.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,003 shares of the company's stock valued at $161,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK stock traded up $0.01 during trading on Friday, reaching $134.28. 750,810 shares of the company's stock were exchanged, compared to its average volume of 869,882. Mohawk Industries has a twelve month low of $78.30 and a twelve month high of $164.29. The firm's fifty day moving average price is $152.80 and its 200-day moving average price is $134.22. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.48 billion, a PE ratio of 15.21, a PEG ratio of 1.46 and a beta of 1.38.

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.