Mohawk Industries (NYSE:MHK) PT Raised to $184.00

Mohawk Industries (NYSE:MHK) had its target price upped by stock analysts at Truist Financial from $135.00 to $184.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 13.51% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Barclays lowered their price objective on shares of Mohawk Industries from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Robert W. Baird boosted their target price on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.42.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $162.10 on Monday. The firm has a 50 day moving average of $119.76 and a 200-day moving average of $116.95. The stock has a market capitalization of $10.35 billion, a PE ratio of -24.79, a PEG ratio of 1.88 and a beta of 1.38. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $163.84.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 EPS. On average, equities research analysts predict that Mohawk Industries will post 9.49 EPS for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its position in shares of Mohawk Industries by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock valued at $1,430,000 after acquiring an additional 98 shares during the period. State of Michigan Retirement System lifted its position in shares of Mohawk Industries by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp lifted its position in shares of Mohawk Industries by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after acquiring an additional 105 shares during the period. Quent Capital LLC lifted its position in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds 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.