Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus rating of “Buy” by the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $293.07.
Several research firms have recently commented on MHK. Jefferies Group began coverage on shares of Mohawk Industries in a report on Tuesday, December 12th. They issued a “buy” rating and a $330.00 target price on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price on the stock in a report on Friday, January 19th. ValuEngine downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Loop Capital began coverage on shares of Mohawk Industries in a report on Thursday, March 1st. They issued a “hold” rating and a $261.00 target price on the stock.
In other news, Director William Henry Runge III bought 500 shares of Mohawk Industries stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $250.87 per share, with a total value of $125,435.00. Following the completion of the purchase, the director now owns 2,335 shares in the company, valued at approximately $585,781.45. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Frank H. Boykin sold 1,388 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $248.26, for a total transaction of $344,584.88. Following the completion of the sale, the chief financial officer now directly owns 17,505 shares in the company, valued at approximately $4,345,791.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,595 shares of company stock worth $8,603,365. 17.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MHK. Nationwide Fund Advisors raised its stake in shares of Mohawk Industries by 3.1% in the third quarter. Nationwide Fund Advisors now owns 130,496 shares of the company’s stock valued at $32,299,000 after acquiring an additional 3,953 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Mohawk Industries by 8.6% in the third quarter. State of Wisconsin Investment Board now owns 60,721 shares of the company’s stock valued at $15,029,000 after acquiring an additional 4,801 shares during the period. Sei Investments Co. raised its stake in shares of Mohawk Industries by 539.4% in the third quarter. Sei Investments Co. now owns 15,474 shares of the company’s stock valued at $3,830,000 after acquiring an additional 13,054 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Mohawk Industries in the third quarter valued at $2,925,000. Finally, Intrust Bank NA raised its stake in shares of Mohawk Industries by 16.7% in the third quarter. Intrust Bank NA now owns 1,818 shares of the company’s stock valued at $450,000 after acquiring an additional 260 shares during the period. 78.68% of the stock is currently owned by institutional investors and hedge funds.
Mohawk Industries (MHK) traded up $1.50 during mid-day trading on Wednesday, hitting $247.90. 500,289 shares of the stock traded hands, compared to its average volume of 705,392. Mohawk Industries has a 1 year low of $223.84 and a 1 year high of $286.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80. The stock has a market capitalization of $18,338.43, a P/E ratio of 19.10, a PEG ratio of 1.73 and a beta of 1.37.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. equities analysts expect that Mohawk Industries will post 15.65 EPS for the current fiscal year.
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About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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