Investors Buy Mohawk Industries (MHK) on Weakness
Traders purchased shares of Mohawk Industries, Inc. (NYSE:MHK) on weakness during trading hours on Thursday. $72.23 million flowed into the stock on the tick-up and $46.32 million flowed out of the stock on the tick-down, for a money net flow of $25.91 million into the stock. Of all equities tracked, Mohawk Industries had the 15th highest net in-flow for the day. Mohawk Industries traded down ($0.37) for the day and closed at $271.72
A number of equities analysts recently commented on MHK shares. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Cleveland Research cut Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Nomura set a $300.00 target price on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Finally, Northcoast Research started coverage on Mohawk Industries in a report on Thursday, October 5th. They set a “buy” rating and a $295.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $292.83.
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. The firm has a market cap of $20,160.00, a P/E ratio of 21.05, a PEG ratio of 2.29 and a beta of 1.37.
Institutional investors and hedge funds have recently made changes to their positions in the company. Sun Life Financial INC raised its position in shares of Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth about $206,000. Teacher Retirement System of Texas acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth about $212,000. Captrust Financial Advisors acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth about $217,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth about $221,000. Institutional investors and hedge funds own 76.52% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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