Mohawk Industries (NYSE:MHK) Price Target Increased to $108.00 by Analysts at Royal Bank of Canada

Mohawk Industries (NYSE:MHK) had its price objective increased by Royal Bank of Canada from $106.00 to $108.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a hold rating to a buy rating and raised their price objective for the company from $98.00 to $152.00 in a report on Monday, February 12th. Barclays increased their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an equal weight rating in a report on Monday, February 12th. The Goldman Sachs Group upped their price target on Mohawk Industries from $105.00 to $120.00 and gave the company a buy rating in a research report on Thursday, January 11th. Truist Financial lifted their price objective on Mohawk Industries from $98.00 to $127.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Finally, StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Saturday, February 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $121.00.

Mohawk Industries Stock Up 2.6 %

NYSE:MHK opened at $118.43 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The company has a fifty day moving average of $118.92 and a two-hundred day moving average of $103.64.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share 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 during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities research analysts forecast that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

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% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares during the period. Allworth Financial LP boosted its stake in shares of 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 buying an additional 244 shares during the period. Huntington National Bank increased its stake in shares of Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after buying an additional 143 shares during the period. Signaturefd LLC raised its holdings in Mohawk Industries by 29.4% in the fourth 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, TFO Wealth Partners LLC lifted its stake in Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after acquiring an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.