Deutsche Bank Aktiengesellschaft Begins Coverage on Mohawk Industries (NYSE:MHK)

Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries (NYSE:MHK) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a hold rating and a $121.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Loop Capital dropped their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Mohawk Industries Trading Up 0.7 %

NYSE:MHK opened at $114.93 on Tuesday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $118.38 and a 200 day moving average of $131.63. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS 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 predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction on 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 sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This 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 link. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of MHK. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries during the 4th quarter valued at about $41,000. Wilmington Savings Fund Society FSB bought a new position in shares of Mohawk Industries in the third quarter worth approximately $55,000. Versant Capital Management Inc grew its holdings in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after buying an additional 223 shares during the last quarter. R Squared Ltd bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $66,000. Finally, Huntington National Bank raised its holdings in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after acquiring an additional 119 shares during the last quarter. 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.