Wells Fargo & Company Raises Mohawk Industries (NYSE:MHK) Price Target to $140.00

Mohawk Industries (NYSE:MHK) had its target price upped by Wells Fargo & Company from $110.00 to $140.00 in a research report report published on Monday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts have also weighed in on the stock. Truist Financial upped their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a buy rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Bank of America raised shares of Mohawk Industries from an underperform rating to a buy rating and upped their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Raymond James raised shares of Mohawk Industries from a market perform rating to a strong-buy rating and set a $140.00 price target for the company in a research note on Monday, June 10th. Finally, Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of Moderate Buy and a consensus price target of $153.42.

Mohawk Industries Trading Down 2.8 %

Mohawk Industries stock opened at $156.48 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $120.64 and a two-hundred day moving average price of $117.26. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of -23.93, a PEG ratio of 1.29 and a beta of 1.38. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $164.05.

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

Insider Activity

In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The disclosure for this sale can be found here. 17.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP increased its stake 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 period. Quent Capital LLC increased its stake in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares during the period. Allworth Financial LP increased its stake in Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares during the period. Signaturefd LLC grew its position in Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares in the last quarter. Finally, AM Squared Ltd bought a new stake in Mohawk Industries in the second quarter worth approximately $68,000. 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.