Mohawk Industries, Inc. (NYSE:MHK) Receives $156.00 Consensus Target Price from Analysts

Mohawk Industries, Inc. (NYSE:MHK) has received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $156.00.

Several research analysts recently weighed in on MHK shares. Loop Capital lifted their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price target on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

Mohawk Industries Stock Up 4.3 %

NYSE:MHK opened at $156.55 on Friday. The company’s 50 day moving average is $143.98 and its two-hundred day moving average is $126.67. The company has a market cap of $9.88 billion, a PE ratio of -23.94, a P/E/G ratio of 1.15 and a beta of 1.37. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.05. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the business earned $2.76 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts anticipate that Mohawk Industries will post 10 EPS for the current year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 in the last quarter. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the company. Quest Partners LLC grew its stake in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Quarry LP increased its holdings in Mohawk Industries by 70.4% during 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 period. Headlands Technologies LLC acquired a new stake in Mohawk Industries in the 2nd quarter valued at about $50,000. Quent Capital LLC boosted its stake in shares of Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $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% during the fourth 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. 78.98% of the stock is 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.