Analysts Set Mohawk Industries, Inc. (NYSE:MHK) Price Target at $122.50

Shares of Mohawk Industries, Inc. (NYSE:MHK) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $153.42.

A number of research firms have recently issued reports on MHK. Royal Bank of Canada lifted their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday. Truist Financial raised their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Robert W. Baird raised their price objective on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the sale, the insider now owns 122,369 shares in the company, valued at $13,673,512.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cock Paul F. De 1,118 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The disclosure for this trade can be found here. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of large investors have recently added to or reduced their stakes in MHK. Quarry LP boosted its holdings in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after buying an additional 174 shares in the last quarter. Allworth Financial LP boosted its stake in 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 period. Signaturefd LLC boosted its stake in Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the period. Quent Capital LLC boosted its stake in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Trading Down 0.6 %

NYSE MHK opened at $161.07 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $164.05. The business’s 50-day moving average price is $119.76 and its 200 day moving average price is $116.95.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm earned $2.76 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts predict that Mohawk Industries will post 9.77 earnings per share for the current year.

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.