Mohawk Industries, Inc. (NYSE:MHK) Receives $117.56 Average Target Price from Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given an average rating of “Hold” by the eight brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $118.75.

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Wells Fargo & Company reduced their target price on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. The Goldman Sachs Group raised their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Truist Financial raised their target price on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th.

Insider Activity

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Caxton Associates LP acquired a new stake in Mohawk Industries in the 3rd quarter worth about $1,170,000. Northern Trust Corp boosted its stake in Mohawk Industries by 4.0% in the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after buying an additional 23,070 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Mohawk Industries in the 3rd quarter worth about $397,000. JPMorgan Chase & Co. boosted its stake in Mohawk Industries by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after buying an additional 103,813 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Mohawk Industries by 35.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after buying an additional 5,547 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $108.08 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The stock has a fifty day moving average price of $119.30 and a 200 day moving average price of $101.86. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The company has a market cap of $6.88 billion, a PE ratio of -15.62 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $1.32 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Mohawk Industries will post 9.56 EPS for the current year.

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.