StockNews.com Upgrades Mohawk Industries (NYSE:MHK) to Buy

StockNews.com upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other research firms also recently weighed in on MHK. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company reduced 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. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Loop Capital cut their price target on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.46.

Mohawk Industries Trading Up 0.8 %

MHK opened at $118.18 on Thursday. The firm has a 50 day simple moving average of $130.97 and a 200 day simple moving average of $139.41. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently made changes to their positions in the business. TD Asset Management Inc lifted its position in Mohawk Industries by 4.2% during the 2nd quarter. TD Asset Management Inc now owns 9,903 shares of the company’s stock worth $1,125,000 after buying an additional 400 shares in the last quarter. National Bank of Canada FI boosted its position in Mohawk Industries by 23.7% during the second quarter. National Bank of Canada FI now owns 14,820 shares of the company’s stock valued at $1,629,000 after purchasing an additional 2,841 shares during the last quarter. Victory Capital Management Inc. grew its stake in Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after purchasing an additional 212,820 shares in the last quarter. Arizona State Retirement System increased its position in shares of Mohawk Industries by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,157 shares of the company’s stock worth $1,722,000 after purchasing an additional 281 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of 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 purchasing an additional 84 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.