Evercore ISI Cuts Mohawk Industries (NYSE:MHK) Price Target to $140.00

Mohawk Industries (NYSE:MHK) had its target price decreased by Evercore ISI from $150.00 to $140.00 in a research note released on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other brokerages also recently weighed in on MHK. The Goldman Sachs Group lowered their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Truist Financial reduced their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday. Six investment 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. According to MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Price Performance

MHK stock opened at $116.77 on Monday. The company has a fifty day moving average price of $123.32 and a 200-day moving average price of $140.07. The company has a market capitalization of $7.37 billion, a P/E ratio of 14.36, a PEG ratio of 1.60 and a beta of 1.41. Mohawk Industries has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. As a group, equities analysts expect that Mohawk Industries will post 10.71 EPS for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 19,078 shares of company stock worth $2,474,347 over the last three months. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new position in Mohawk Industries during the third quarter worth about $55,000. Blue Trust Inc. boosted its holdings in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. True Wealth Design LLC purchased a new position in Mohawk Industries during the third quarter worth about $61,000. Finally, Versant Capital Management Inc boosted its holdings in Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.