Analysts Set Mohawk Industries, Inc. (NYSE:MHK) PT at $123.20

Mohawk Industries, Inc. (NYSE:MHK) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $123.20.

Several brokerages have issued reports on MHK. Truist Financial upped their price objective on Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Royal Bank of Canada upped their price objective on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Barclays reduced their price target on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Loop Capital reduced their price target on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Raymond James raised 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 report on Monday, June 10th.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction on Friday, June 14th. The stock was 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 approximately $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors have recently made changes to their positions in MHK. Quarry LP lifted its stake in shares of 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 purchasing an additional 174 shares during the period. Quent Capital LLC raised its stake in Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after buying an additional 106 shares during the period. Allworth Financial LP raised its stake in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after buying an additional 244 shares during the period. Signaturefd LLC raised its stake in Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after buying an additional 128 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in Mohawk Industries by 32,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after buying an additional 650 shares during the period. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $109.85 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The firm has a market cap of $7.02 billion, a P/E ratio of -16.80, a P/E/G ratio of 1.09 and a beta of 1.38. The business’s fifty day moving average is $115.59 and its two-hundred day moving average is $113.42. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $131.19.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. Equities research analysts forecast that Mohawk Industries will post 9.68 earnings per share for the current fiscal year.

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.