Mohawk Industries, Inc. (NYSE:MHK) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Mohawk Industries has received a consensus recommendation of "Moderate Buy" from analysts, with an average target price of $140.14.
• CEO Jeffrey S. Lorberbaum recently sold 16,000 shares at an average price of $120.81, significantly reducing his ownership stake in the company.
• The company reported earnings of $2.77 per share, exceeding expectations, with quarterly revenue amounting to $2.80 billion, up from the previous year.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $140.1429.

MHK has been the subject of a number of recent research reports. Barclays set a $125.00 target price on shares of Mohawk Industries and gave the company an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird raised their price target on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their target price on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI decreased their target price on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research report on Monday, July 28th.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded up $1.42 during trading on Monday, hitting $120.71. The company's stock had a trading volume of 608,641 shares, compared to its average volume of 943,889. The company has a 50-day moving average of $107.76 and a 200-day moving average of $111.02. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.60 and a beta of 1.28. Mohawk Industries has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. On average, sell-side analysts expect that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the sale, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. This trade represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 2,500 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the sale, the insider directly owned 91,084 shares of the company's stock, valued at $10,984,730.40. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors have recently bought and sold shares of MHK. JPMorgan Chase & Co. boosted its stake in shares of Mohawk Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock valued at $414,017,000 after buying an additional 410,388 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mohawk Industries by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company's stock valued at $338,444,000 after buying an additional 213,429 shares during the period. Invesco Ltd. boosted its stake in shares of Mohawk Industries by 5.6% in the 1st quarter. Invesco Ltd. now owns 1,821,951 shares of the company's stock valued at $208,030,000 after buying an additional 96,568 shares during the period. Ariel Investments LLC boosted its stake in shares of Mohawk Industries by 3.4% in the 1st quarter. Ariel Investments LLC now owns 1,743,574 shares of the company's stock valued at $199,081,000 after buying an additional 57,391 shares during the period. Finally, Select Equity Group L.P. boosted its stake in shares of Mohawk Industries by 3.4% in the 1st quarter. Select Equity Group L.P. now owns 1,547,651 shares of the company's stock valued at $176,711,000 after buying an additional 50,232 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

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.