Mohawk Industries (NYSE:MHK) Earns Strong-Buy Rating from Raymond James

Raymond James reissued their strong-buy rating on shares of Mohawk Industries (NYSE:MHK - Free Report) in a report published on Monday morning,Benzinga reports. They currently have a $165.00 price objective on the stock, down from their prior price objective of $185.00.

MHK has been the subject of several other research reports. Wolfe Research raised shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Robert W. Baird dropped their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday. Bank of America cut their price target on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday. Finally, Royal Bank of Canada decreased their price objective on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.92.

Mohawk Industries Stock Performance

NYSE MHK traded up $2.57 during trading hours on Monday, reaching $119.32. The company's stock had a trading volume of 353,200 shares, compared to its average volume of 822,052. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $123.32 and a 200 day simple moving average of $140.07. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The stock has a market cap of $7.53 billion, a PE ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Equities research analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 19,078 shares of company stock valued at $2,474,347 over the last ninety days. Insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the 3rd quarter worth approximately $36,000. Resona Asset Management Co. Ltd. acquired a new position in Mohawk Industries during the fourth quarter valued at $41,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the 3rd quarter worth about $55,000. Blue Trust Inc. boosted its position 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 acquiring an additional 167 shares during the period. Finally, True Wealth Design LLC purchased a new position in Mohawk Industries during the 3rd quarter valued at about $61,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.