Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Price Target at $117.56

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been assigned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $118.75.

MHK has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 22nd. Finally, Barclays lifted their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th.

Mohawk Industries Stock Down 0.2 %

NYSE:MHK opened at $108.08 on Tuesday. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The stock has a market capitalization of $6.88 billion, a P/E ratio of -15.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The company’s 50-day simple moving average is $119.30 and its 200-day simple moving average is $101.86.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. On average, equities analysts anticipate that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently modified their holdings of MHK. Gyon Technologies Capital Management LP acquired a new position in shares of Mohawk Industries during the 4th quarter valued at about $30,000. Rockefeller Capital Management L.P. boosted its position in shares of Mohawk Industries by 143.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after acquiring an additional 181 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Mohawk Industries during the 2nd quarter valued at about $41,000. Quarry LP boosted its position in shares of Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.