Mohawk Industries (NYSE:MHK) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries (NYSE:MHK) in a report released on Tuesday. The brokerage set a “hold” rating and a $121.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 7.35% from the company’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Robert W. Baird cut their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Bank of America cut their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Truist Financial reduced their price objective on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Loop Capital reduced their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus target price of $145.07.

Mohawk Industries Stock Performance

NYSE:MHK traded down $1.46 during trading hours on Tuesday, reaching $112.72. The stock had a trading volume of 16,094 shares, compared to its average volume of 720,943. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a 50 day simple moving average of $118.70 and a 200 day simple moving average of $131.93. The stock has a market cap of $7.05 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, research analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of MHK. Cerity Partners LLC purchased a new position in Mohawk Industries during the third quarter worth $1,935,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Mohawk Industries by 15.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,307 shares of the company’s stock valued at $1,977,000 after buying an additional 1,685 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Mohawk Industries by 2.2% in the third quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company’s stock worth $1,473,000 after buying an additional 200 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after acquiring an additional 115 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Mohawk Industries by 95.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,756 shares of the company’s stock valued at $764,000 after acquiring an additional 2,319 shares during the period. 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.