Royal Bank of Canada Boosts Mohawk Industries (NYSE:MHK) Price Target to $108.00

Mohawk Industries (NYSE:MHK) had its target price lifted by Royal Bank of Canada from $106.00 to $108.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Saturday, February 17th. The Goldman Sachs Group increased their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. TheStreet upgraded Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. Truist Financial increased their price objective on Mohawk Industries from $98.00 to $127.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a hold rating to a buy rating and boosted their target price for the company from $98.00 to $152.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries currently has an average rating of Hold and a consensus price target of $121.00.

Mohawk Industries Stock Down 0.4 %

Shares of MHK opened at $114.87 on Monday. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $118.97 and a two-hundred day simple moving average of $103.95. The firm has a market cap of $7.34 billion, a P/E ratio of -17.56 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. On average, analysts forecast that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $185,360.01. Following the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of Mohawk Industries by 1,152.0% during the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after purchasing an additional 733,097 shares during the last quarter. Norges Bank bought a new stake in Mohawk Industries in the fourth quarter worth $68,050,000. Dimensional Fund Advisors LP increased its holdings in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock valued at $254,543,000 after acquiring an additional 317,278 shares in the last quarter. Paradice Investment Management LLC raised its position in shares of Mohawk Industries by 52.4% in the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock worth $44,494,000 after purchasing an additional 178,310 shares during the last quarter. Finally, ARGA Investment Management LP boosted its stake in Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock worth $51,766,000 after purchasing an additional 168,401 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.