Truist Financial Trims Mohawk Industries (NYSE:MHK) Target Price to $135.00

Mohawk Industries (NYSE:MHK) had its target price reduced by Truist Financial from $140.00 to $135.00 in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts also recently issued reports on MHK. JPMorgan Chase & Co. lifted their price target on Mohawk Industries from $122.00 to $124.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Barclays dropped their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, April 29th. Raymond James upgraded shares of Mohawk Industries from a market perform rating to a strong-buy rating and set a $140.00 price objective for the company in a research report on Monday, June 10th. Royal Bank of Canada upped their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a sector perform rating in a report on Monday, April 29th. Finally, Loop Capital reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $122.50.

Mohawk Industries Stock Performance

Shares of MHK opened at $124.98 on Wednesday. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The stock has a market capitalization of $7.98 billion, a PE ratio of -19.11, a PEG ratio of 1.21 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The stock has a 50-day simple moving average of $115.47 and a 200-day simple moving average of $113.91.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, analysts predict that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the stock. Quarry LP grew its position in Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after buying an additional 174 shares during the last quarter. Allworth Financial LP increased its stake in shares of Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC raised its holdings in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC lifted its position in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the period. Finally, TFO Wealth Partners LLC lifted its position 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 purchasing an additional 650 shares during the period. Hedge funds and other 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.