Mohawk Industries (NYSE:MHK) Price Target Raised to $140.00 at Truist Financial

Mohawk Industries (NYSE:MHK) had its price target boosted by Truist Financial from $127.00 to $140.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. TheStreet upgraded Mohawk Industries from a d+ rating to a c- rating in a research note on Monday, March 4th. StockNews.com raised shares of Mohawk Industries from a hold rating to a buy rating in a research report on Saturday, February 17th. Wells Fargo & Company reduced their price objective 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. Barclays raised their price target on Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Finally, Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $121.00.

Mohawk Industries Price Performance

MHK opened at $118.43 on Monday. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $131.19. The company’s 50-day moving average price is $118.92 and its two-hundred day moving average price is $103.64. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. Mohawk Industries’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities analysts predict that Mohawk Industries will post 9.56 EPS for the current year.

Insider Activity

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries 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 transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the stock. Czech National Bank boosted its position in Mohawk Industries by 47.7% during the 3rd quarter. Czech National Bank now owns 9,239 shares of the company’s stock valued at $793,000 after buying an additional 2,983 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Mohawk Industries by 4.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,874 shares of the company’s stock valued at $1,276,000 after acquiring an additional 700 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Mohawk Industries by 3,935.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,753 shares of the company’s stock worth $322,000 after purchasing an additional 3,660 shares during the period. Xponance Inc. grew its stake in shares of Mohawk Industries by 5.3% in the third quarter. Xponance Inc. now owns 8,930 shares of the company’s stock worth $766,000 after purchasing an additional 446 shares during the last quarter. Finally, Concord Wealth Partners grew its position in shares of Mohawk Industries by 23.6% in the 3rd quarter. Concord Wealth Partners now owns 3,973 shares of the company’s stock worth $341,000 after buying an additional 759 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.