Mohawk Industries (NYSE:MHK) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Mohawk Industries (NYSE:MHK) from a peer perform rating to an outperform rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $150.00 price objective on the stock.

Several other brokerages also recently commented on MHK. Jefferies Financial Group upped their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Loop Capital decreased their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada decreased their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.92.

Mohawk Industries Stock Performance

NYSE MHK opened at $118.06 on Wednesday. The company has a market cap of $7.45 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.41 and a beta of 1.41. 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 business’s 50 day moving average price is $130.65 and its 200-day moving average price is $139.26. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in shares of Mohawk Industries by 12.5% during the 3rd quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after acquiring an additional 76 shares in the last quarter. Quest Partners LLC raised its stake in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Allworth Financial LP raised its stake in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after buying an additional 115 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.