Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) PT at $146.92

Mohawk Industries, Inc. (NYSE:MHK) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $145.07.

Several equities research analysts have weighed in on the company. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James restated a “strong-buy” rating and issued a $165.00 price objective (down previously from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th.

Mohawk Industries Price Performance

NYSE MHK opened at $105.55 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.61 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.44 and a beta of 1.23. Mohawk Industries has a 12-month low of $100.56 and a 12-month high of $164.29. The firm’s fifty day simple moving average is $117.26 and its two-hundred day simple moving average is $130.85.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the 4th quarter valued at $41,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries in the third quarter valued at about $55,000. Versant Capital Management Inc grew its holdings in shares of Mohawk Industries by 71.0% in the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after purchasing an additional 223 shares during the period. R Squared Ltd acquired a new stake in Mohawk Industries during the fourth quarter worth 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 worth $66,000 after purchasing an additional 119 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

About Mohawk Industries

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.