Mohawk Industries (NYSE:MHK) Price Target Cut to $148.00 by Analysts at Truist Financial

Mohawk Industries (NYSE:MHK) had its target price cut by equities research analysts at Truist Financial from $155.00 to $148.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 23.15% from the company’s current price.

Several other brokerages have also commented on MHK. Robert W. Baird cut their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Wednesday, January 8th. Bank of America dropped their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Barclays lowered their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.23.

Mohawk Industries Trading Down 1.5 %

Shares of MHK opened at $120.18 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $124.30 and a 200 day moving average price of $140.65. Mohawk Industries has a 12-month low of $101.83 and a 12-month high of $164.29. The firm has a market capitalization of $7.59 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. Sell-side analysts forecast that Mohawk Industries will post 10.71 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the sale, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by company insiders.

Institutional Trading of Mohawk Industries

Several institutional investors and hedge funds have recently modified their holdings of MHK. Signaturefd LLC grew its holdings in shares of Mohawk Industries by 12.5% during the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after buying an additional 76 shares in the last quarter. Allworth Financial LP grew its stake in Mohawk Industries by 20.6% in the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after acquiring an additional 107 shares during the period. Hantz Financial Services Inc. raised its holdings in Mohawk Industries by 7.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Mohawk Industries by 2.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after purchasing an additional 121 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.