Mohawk Industries (NYSE:MHK) Price Target Raised to $140.00

Mohawk Industries (NYSE:MHK) had its price objective upped by Truist Financial from $127.00 to $140.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a hold rating to a buy rating and lifted their target price for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Barclays boosted their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Royal Bank of Canada raised their price target on Mohawk Industries from $106.00 to $108.00 and gave the company a sector perform rating in a report on Monday. Finally, Wells Fargo & Company cut their price objective on Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $121.00.

Mohawk Industries Stock Down 0.4 %

NYSE MHK opened at $114.87 on Monday. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of -17.56 and a beta of 1.34. The stock’s 50 day moving average is $118.97 and its two-hundred day moving average is $103.95. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the company earned $1.75 EPS. Mohawk Industries’s revenue was down 4.5% on a year-over-year basis. Equities analysts forecast that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

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 value of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP lifted 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 buying an additional 174 shares during the period. Allworth Financial LP boosted its position in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares during the last quarter. Huntington National Bank grew 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 purchasing an additional 143 shares during the period. Signaturefd LLC increased 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 purchasing an additional 128 shares during 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 valued at $67,000 after buying an additional 650 shares during the period. 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.