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

Wolfe Research upgraded shares of Mohawk Industries (NYSE:MHK) from a peer perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $150.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Loop Capital cut their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Royal Bank of Canada cut their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Barclays cut their price target on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.46.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $118.18 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The stock has a fifty day moving average of $131.31 and a two-hundred day moving average of $139.56. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.41 and a beta of 1.41.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares of the company’s stock, valued at $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC lifted its position in 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 acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries during the third quarter worth $36,000. Headlands Technologies LLC purchased a new position in shares of Mohawk Industries in the second quarter valued at $50,000. Wilmington Savings Fund Society FSB acquired a new stake in Mohawk Industries during the 3rd quarter valued at $55,000. Finally, Blue Trust Inc. increased its stake in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.