Mohawk Industries (NYSE:MHK – Free Report) had its target price hoisted by Robert W. Baird from $130.00 to $142.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.
A number of other equities analysts have also recently issued reports on MHK. JPMorgan Chase & Co. cut their target price on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Royal Bank Of Canada cut their target price on Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating on the stock in a report on Monday, May 5th. Wells Fargo & Company increased their target price on Mohawk Industries from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Barclays increased their target price on Mohawk Industries from $111.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wall Street Zen cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.
View Our Latest Analysis on Mohawk Industries
Mohawk Industries Price Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the business earned $3.00 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.
Insider Activity
In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the sale, the chief executive officer owned 33,600 shares of the company’s stock, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 2,500 shares of Mohawk Industries stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the sale, the insider directly owned 91,084 shares of the company’s stock, valued at approximately $10,984,730.40. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock valued at $28,000 after acquiring an additional 186 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the 4th quarter worth approximately $41,000. Brooklyn Investment Group lifted its stake in Mohawk Industries by 2,506.3% in the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company’s stock worth $48,000 after purchasing an additional 401 shares in the last quarter. Allworth Financial LP grew its position in shares of Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares in 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.
See Also
- Five stocks we like better than Mohawk Industries
- The 3 Best Blue-Chip Stocks to Buy Now
- Visa Beats Q3 Earnings Expectations, So Why Did the Market Panic?
- How to Short Nasdaq: An Easy-to-Follow Guide
- How Marvell Went From Short Target to Breakout Star
- How to Evaluate a Stock Before BuyingÂ
- Palo Alto Networks: The All?in?One Cybersecurity Powerhouse
Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.