Mohawk Industries (NYSE:MHK) Earns Buy Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Mohawk Industries (NYSE:MHK) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage issued a buy rating and a $165.00 price target on the stock.

A number of other brokerages have also commented on MHK. Deutsche Bank started coverage on Mohawk Industries in a research report on Wednesday, November 27th. They issued a hold rating on the stock. Robert W. Baird lifted their target price on Mohawk Industries from $150.00 to $168.00 and gave the company an outperform rating in a research note on Monday, October 28th. Raymond James dropped their target price on Mohawk Industries from $145.00 to $140.00 and set an outperform rating for the company in a research report on Tuesday, October 22nd. ValuEngine lowered Mohawk Industries from a hold rating to a sell rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus raised their price target on Mohawk Industries from $145.00 to $165.00 in a report on Monday, October 28th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Mohawk Industries presently has an average rating of Hold and a consensus target price of $141.69.

Shares of MHK stock opened at $138.72 on Friday. Mohawk Industries has a 1 year low of $108.93 and a 1 year high of $156.60. The firm’s 50 day moving average is $140.27 and its 200-day moving average is $134.48. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.86 and a beta of 1.30. The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.51 billion. Mohawk Industries had a net margin of 7.09% and a return on equity of 9.82%. Mohawk Industries’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 earnings per share. On average, equities research analysts forecast that Mohawk Industries will post 9.96 earnings per share for the current fiscal year.

In other Mohawk Industries news, insider Suzanne L. Helen sold 26,316 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $152.10, for a total value of $4,002,663.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cock Paul F. De sold 1,489 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $145.14, for a total value of $216,113.46. Following the completion of the transaction, the insider now directly owns 24,260 shares in the company, valued at approximately $3,521,096.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,205 shares of company stock valued at $5,831,913 in the last ninety days. Company insiders own 18.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its holdings in Mohawk Industries by 172.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,410 shares of the company’s stock valued at $22,252,000 after purchasing an additional 111,552 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Mohawk Industries by 443.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,639 shares of the company’s stock worth $979,000 after purchasing an additional 5,418 shares in the last quarter. Wetherby Asset Management Inc. acquired a new position in shares of Mohawk Industries in the 2nd quarter valued at $237,000. Advisor Partners LLC grew its holdings in shares of Mohawk Industries by 8.8% in the 2nd quarter. Advisor Partners LLC now owns 2,967 shares of the company’s stock valued at $438,000 after buying an additional 241 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Mohawk Industries in the 2nd quarter valued at $292,000. Institutional investors own 79.56% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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