The Goldman Sachs Group Increases Mohawk Industries (NYSE:MHK) Price Target to $185.00

Mohawk Industries (NYSE:MHK) had its price target boosted by The Goldman Sachs Group from $141.00 to $185.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

MHK has been the topic of several other reports. Truist Financial upped their price objective on Mohawk Industries from $135.00 to $184.00 and gave the company a buy rating in a research report on Monday. Bank of America upgraded Mohawk Industries from an underperform rating to a buy rating and upped their price objective for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on Mohawk Industries from $110.00 to $140.00 and gave the company an underweight rating in a research report on Monday. Loop Capital upped their price objective on Mohawk Industries from $145.00 to $185.00 and gave the company a buy rating in a research report on Monday. Finally, Barclays upped their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an equal weight rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries has an average rating of Moderate Buy and an average target price of $153.42.

Mohawk Industries Stock Down 2.8 %

MHK opened at $156.48 on Monday. The business’s fifty day moving average is $120.64 and its two-hundred day moving average is $117.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The company has a market cap of $9.88 billion, a price-to-earnings ratio of -23.93, a PEG ratio of 1.29 and a beta of 1.38. Mohawk Industries has a one year low of $76.02 and a one year high of $164.05.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. Mohawk Industries’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.76 earnings per share. Analysts anticipate that Mohawk Industries will post 9.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 755 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the transaction, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Cock Paul F. De 1,118 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The was disclosed in a document filed with the SEC, which is available through this link. Also, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Mohawk Industries by 70.4% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after buying an additional 174 shares in the last quarter. Allworth Financial LP grew its stake in shares of Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC grew its stake in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares in the last quarter. Quent Capital LLC grew its stake in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.