ValuEngine Upgrades Mohawk Industries (NYSE:MHK) to Hold

ValuEngine upgraded shares of Mohawk Industries (NYSE:MHK) from a sell rating to a hold rating in a report issued on Monday, ValuEngine reports.

A number of other analysts have also issued reports on MHK. Wells Fargo & Co lowered shares of Mohawk Industries from a market perform rating to an underperform rating and set a $110.00 price target for the company. in a research note on Monday, October 14th. Deutsche Bank started coverage on shares of Mohawk Industries in a research note on Wednesday, November 27th. They set a hold rating on the stock. Stifel Nicolaus raised their price objective on shares of Mohawk Industries from $145.00 to $165.00 in a report on Monday, October 28th. Goldman Sachs Group assumed coverage on shares of Mohawk Industries in a report on Friday, December 6th. They set a buy rating and a $165.00 price objective for the company. Finally, Raymond James dropped their target price on shares of Mohawk Industries from $145.00 to $140.00 and set an outperform rating for the company in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $145.36.

NYSE MHK traded up $5.34 during mid-day trading on Monday, reaching $137.98. 2,258,653 shares of the company’s stock traded hands, compared to its average volume of 666,595. The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1-year low of $108.93 and a 1-year high of $156.60. The company has a fifty day simple moving average of $134.03 and a 200-day simple moving average of $130.26. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.61 and a beta of 1.36.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 13th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.05. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.42 billion. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. Mohawk Industries’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 EPS. Equities research analysts forecast that Mohawk Industries will post 9.96 earnings per share for the current fiscal year.

In related news, insider Suzanne L. Helen sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $138.94, for a total transaction of $972,580.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 18.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MHK. LS Investment Advisors LLC lifted its holdings in Mohawk Industries by 1.8% in the third quarter. LS Investment Advisors LLC now owns 4,881 shares of the company’s stock worth $606,000 after acquiring an additional 87 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Mohawk Industries by 0.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 11,183 shares of the company’s stock valued at $1,525,000 after purchasing an additional 92 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of Mohawk Industries by 0.3% during the fourth quarter. Pictet Asset Management Ltd. now owns 37,222 shares of the company’s stock valued at $5,076,000 after purchasing an additional 100 shares during the last quarter. Wilsey Asset Management Inc. grew its holdings in shares of Mohawk Industries by 0.3% during the fourth quarter. Wilsey Asset Management Inc. now owns 40,529 shares of the company’s stock valued at $5,511,000 after purchasing an additional 106 shares during the last quarter. Finally, Coastal Investment Advisors Inc. raised its position in shares of Mohawk Industries by 3.8% during the 4th quarter. Coastal Investment Advisors Inc. now owns 2,886 shares of the company’s stock worth $400,000 after purchasing an additional 106 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Further Reading: The limitations of an equal weight rating

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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