Mohawk Industries, Inc. (NYSE:MHK) Receives $123.20 Average Target Price from Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $123.20.

MHK has been the topic of a number of analyst reports. Barclays lowered their price target on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Truist Financial lifted their price target on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 29th. Loop Capital decreased their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price for the company in a research note on Monday, June 10th. Finally, Royal Bank of Canada increased their price target 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.

Mohawk Industries Price Performance

NYSE:MHK opened at $110.33 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 company has a 50-day moving average of $115.63 and a 200-day moving average of $113.47. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of -16.87, a PEG ratio of 1.12 and a beta of 1.38.

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

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently bought and sold shares of the business. Quarry LP boosted its position in shares of Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares during the last quarter. Allworth Financial LP lifted its stake in 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 during the period. Signaturefd LLC boosted its holdings in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after buying an additional 128 shares during the last quarter. Quent Capital LLC grew its position in shares of 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. Finally, TFO Wealth Partners LLC increased its stake in shares of Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after acquiring an additional 650 shares during the last quarter. Institutional investors and hedge funds 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.