Mohawk Industries (NYSE:MHK) PT Raised to $160.00 at Jefferies Financial Group

Mohawk Industries (NYSE:MHK) had its price target upped by Jefferies Financial Group from $150.00 to $160.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 0.63% from the stock’s current price.

MHK has been the topic of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. The Goldman Sachs Group upped their target price on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Loop Capital raised their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Barclays lifted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.25.

Mohawk Industries Trading Up 2.2 %

MHK traded up $3.46 during trading hours on Wednesday, reaching $159.00. 783,985 shares of the company’s stock traded hands, compared to its average volume of 700,955. The firm has a 50-day moving average price of $152.68 and a 200 day moving average price of $131.09. The firm has a market capitalization of $10.15 billion, a PE ratio of -24.31, a PEG ratio of 1.23 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $164.05.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 earnings per share. As a group, sell-side analysts predict that Mohawk Industries will post 10 EPS for the current fiscal year.

Insider Activity

In related news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the transaction, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,415 shares of company stock worth $673,387. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several large investors have recently bought and sold shares of MHK. Massachusetts Financial Services Co. MA acquired a new stake in shares of Mohawk Industries during the second quarter worth $85,997,000. Pacer Advisors Inc. lifted its position in Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares during the period. Dimensional Fund Advisors LP grew its stake in Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after purchasing an additional 212,820 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Mohawk Industries in the second quarter worth about $21,061,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.