Mohawk Industries (NYSE:MHK) Earns Buy Rating from Analysts at Vertical Research

Vertical Research initiated coverage on shares of Mohawk Industries (NYSE:MHK) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Wells Fargo & Company raised their target price on Mohawk Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on Mohawk Industries from $139.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Robert W. Baird upped their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Finally, Evercore ISI decreased their price target on shares of Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating for the company in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $139.38.

Mohawk Industries Stock Performance

MHK stock opened at $128.07 on Monday. The firm has a market cap of $7.96 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 3.72 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $129.69 and a 200-day moving average price of $115.25. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $153.72.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 EPS. As a group, equities research 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 stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the transaction, the chief executive officer owned 33,600 shares in the company, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Thiers sold 10,000 shares of Mohawk Industries stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the completion of the transaction, the director owned 105,532 shares of the company’s stock, valued at $13,530,257.72. The trade was a 8.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,791 shares of company stock worth $4,357,225. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MHK. Yousif Capital Management LLC raised its stake in Mohawk Industries by 1.1% during the second quarter. Yousif Capital Management LLC now owns 8,374 shares of the company’s stock valued at $878,000 after buying an additional 88 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Mohawk Industries by 3.8% during the first quarter. M&T Bank Corp now owns 3,315 shares of the company’s stock valued at $378,000 after acquiring an additional 122 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Mohawk Industries by 3.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company’s stock worth $457,000 after purchasing an additional 126 shares during the last quarter. Wedmont Private Capital boosted its stake in Mohawk Industries by 4.3% in the 3rd quarter. Wedmont Private Capital now owns 3,031 shares of the company’s stock worth $372,000 after purchasing an additional 126 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Mohawk Industries by 4.7% during the 1st quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company’s stock valued at $331,000 after purchasing an additional 131 shares in the last quarter. 78.98% of the stock is owned by 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.