Mohawk Industries (NYSE:MHK) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Mohawk Industries (NYSE:MHKFree Report) from a market perform rating to a strong-buy rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $140.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Loop Capital lowered their target price on Mohawk Industries from $140.00 to $135.00 and set a buy rating on the stock in a research note on Monday, April 29th. Barclays lowered their price target on Mohawk Industries from $122.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Royal Bank of Canada boosted their price target on Mohawk Industries from $106.00 to $108.00 and gave the company a sector perform rating in a research note on Monday, April 29th. Truist Financial boosted their price target on Mohawk Industries from $127.00 to $140.00 and gave the company a buy rating in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a hold rating to a buy rating and boosted their target price for the stock from $98.00 to $152.00 in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $123.20.

Read Our Latest Analysis on Mohawk Industries

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $113.78 on Monday. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The firm’s 50-day simple moving average is $116.66 and its 200 day simple moving average is $111.56. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.27 billion, a P/E ratio of -17.40, a P/E/G ratio of 1.17 and a beta of 1.40.

Mohawk Industries (NYSE:MHKGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the business earned $1.75 earnings per share. Mohawk Industries’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities analysts expect that Mohawk Industries will post 9.68 EPS for the current year.

Institutional Trading of Mohawk Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its holdings in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after buying an additional 174 shares during the last quarter. Huntington National Bank lifted its stake in Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after acquiring an additional 143 shares in the last quarter. Allworth Financial LP lifted its stake in Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares in the last quarter. Signaturefd LLC lifted its stake in Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

About Mohawk Industries

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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.

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