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

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) has earned an average rating of "Moderate Buy" from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $140.71.

Several equities analysts recently commented on MHK shares. Barclays cut their target price on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Royal Bank Of Canada lowered their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th.

Institutional Trading of Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Mohawk Industries by 233.0% in the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after purchasing an additional 501 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Mohawk Industries by 136.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,294 shares of the company's stock valued at $154,000 after buying an additional 746 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $3,732,000. Raymond James Financial Inc. bought a new stake in shares of Mohawk Industries in the 4th quarter valued at about $4,891,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Mohawk Industries by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,959 shares of the company's stock valued at $1,186,000 after acquiring an additional 569 shares during the period. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Performance

MHK traded up $1.67 during trading on Thursday, reaching $113.99. 782,666 shares of the company's stock were exchanged, compared to its average volume of 770,376. The company has a market capitalization of $7.13 billion, a P/E ratio of 14.92, a PEG ratio of 4.26 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $104.30 and a 200 day moving average price of $111.89. Mohawk Industries has a fifty-two week low of $96.24 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business earned $1.86 EPS. The firm's revenue was down 5.7% on a year-over-year basis. As a group, analysts predict that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

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.