Barclays Raises Mohawk Industries (NYSE:MHK) Price Target to $122.00

Mohawk Industries (NYSE:MHKFree Report) had its price objective boosted by Barclays from $100.00 to $122.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a hold rating to a buy rating and upped their target price for the company from $98.00 to $152.00 in a report on Monday. StockNews.com downgraded shares of Mohawk Industries from a buy rating to a hold rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a buy rating in a research report on Thursday, January 11th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a research note on Monday, January 22nd. Finally, Royal Bank of Canada increased their target price on Mohawk Industries from $101.00 to $106.00 and gave the stock a sector perform rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $113.90.

View Our Latest Stock Report on Mohawk Industries

Mohawk Industries Price Performance

Mohawk Industries stock opened at $117.24 on Monday. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $119.97. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $102.46 and its 200 day simple moving average is $94.35. The firm has a market capitalization of $7.47 billion, a PE ratio of -16.94 and a beta of 1.31.

Mohawk Industries (NYSE:MHKGet Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the firm earned $1.32 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Mohawk Industries will post 9.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 5,500 shares of Mohawk Industries stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $94.09, for a total transaction of $517,495.00. Following the completion of the sale, the insider now directly owns 8,953 shares in the company, valued at approximately $842,387.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MHK. Shapiro Capital Management LLC acquired a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $96,936,000. Pacer Advisors Inc. grew its holdings in shares of Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after purchasing an additional 733,097 shares in the last quarter. Norges Bank acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $68,050,000. Ariel Investments LLC boosted its stake in Mohawk Industries by 26.8% in the 1st quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock valued at $214,040,000 after buying an additional 364,085 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Mohawk Industries by 23.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,698 shares of the company’s stock valued at $200,412,000 after buying an additional 363,477 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Mohawk Industries Company Profile

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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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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