Mohawk Industries (NYSE:MHK) Stock Rating Upgraded by StockNews.com

Mohawk Industries (NYSE:MHK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

MHK has been the topic of several other research reports. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Barclays reduced their price objective on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company dropped their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Loop Capital reduced their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Finally, Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Wednesday, January 8th. Four equities research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.00.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $130.64 on Tuesday. Mohawk Industries has a 12 month low of $96.28 and a 12 month high of $164.29. The firm has a market capitalization of $8.25 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.26 and a beta of 1.41. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $127.97 and a two-hundred day simple moving average of $140.58.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Mohawk Industries by 12.8% during the second quarter. Envestnet Asset Management Inc. now owns 61,360 shares of the company’s stock worth $6,970,000 after purchasing an additional 6,984 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Mohawk Industries by 18.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,260 shares of the company’s stock worth $484,000 after buying an additional 661 shares during the period. Hsbc Holdings PLC lifted its holdings in Mohawk Industries by 36.9% during the 2nd quarter. Hsbc Holdings PLC now owns 68,876 shares of the company’s stock valued at $7,763,000 after buying an additional 18,562 shares in the last quarter. XTX Topco Ltd purchased a new stake in Mohawk Industries in the 2nd quarter valued at about $235,000. Finally, Sei Investments Co. grew its stake in Mohawk Industries by 27.3% in the 2nd quarter. Sei Investments Co. now owns 79,815 shares of the company’s stock worth $9,066,000 after acquiring an additional 17,095 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other 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.