Mohawk Industries (NYSE:MHK) Rating Increased to Outperform at Wolfe Research

Mohawk Industries (NYSE:MHK) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a $150.00 price objective on the stock. Wolfe Research’s price objective suggests a potential upside of 27.99% from the company’s current price.

Several other research analysts have also commented on MHK. Royal Bank of Canada cut 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. Loop Capital cut their price target on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.46.

Mohawk Industries Price Performance

NYSE:MHK opened at $117.20 on Wednesday. Mohawk Industries has a 52-week low of $96.28 and a 52-week high of $164.29. The stock has a fifty day moving average of $131.31 and a 200 day moving average of $139.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.41 and a beta of 1.41.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last ninety days. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Quest Partners LLC lifted its holdings in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $36,000. Headlands Technologies LLC bought a new stake in Mohawk Industries in the second quarter worth $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries during the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. increased its stake in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares in the last quarter. 78.98% of the stock is currently owned by 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.