Mohawk Industries’ (MHK) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James reissued their strong-buy rating on shares of Mohawk Industries (NYSE:MHK) in a report released on Monday,Benzinga reports. Raymond James currently has a $165.00 price target on the stock, down from their prior price target of $185.00.

Several other analysts have also recently commented on the company. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Bank of America dropped their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group lowered their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Down 2.1 %

Shares of MHK opened at $116.77 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.60 and a beta of 1.41. The stock has a 50 day moving average price of $123.32 and a 200 day moving average price of $140.07.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 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 forecast that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now owns 2,453 shares of the company’s stock, valued at $332,332.44. This represents a 44.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 in the last quarter. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently bought and sold shares of MHK. FMR LLC lifted its stake in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares in the last quarter. Norges Bank acquired a new position in Mohawk Industries during the 4th quarter worth about $61,171,000. Massachusetts Financial Services Co. MA lifted its stake in Mohawk Industries by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after acquiring an additional 354,656 shares in the last quarter. American Century Companies Inc. lifted its stake in Mohawk Industries by 48.7% during the 4th quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock worth $114,224,000 after acquiring an additional 313,897 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock worth $383,076,000 after acquiring an additional 191,077 shares in the last quarter. Institutional investors and hedge funds 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.