Royal Bank of Canada Cuts Mohawk Industries (NYSE:MHK) Price Target to $134.00

Mohawk Industries (NYSE:MHK) had its price target trimmed by Royal Bank of Canada from $140.00 to $134.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts also recently weighed in on the stock. Barclays dropped their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday. Truist Financial decreased their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group boosted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Trading Up 2.2 %

Shares of Mohawk Industries stock opened at $135.29 on Monday. The company has a market capitalization of $8.64 billion, a P/E ratio of -20.95, a P/E/G ratio of 1.11 and a beta of 1.37. 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 fifty day moving average of $153.88 and a 200 day moving average of $134.05. Mohawk Industries has a fifty-two week low of $78.30 and a fifty-two week high of $164.29.

Insider Activity

In other news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the 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 completion of the sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. 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 three months, insiders have sold 3,660 shares of company stock worth $550,488. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Mohawk Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its position in Mohawk Industries by 19.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,003 shares of the company’s stock worth $161,000 after purchasing an additional 165 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Mohawk Industries by 36.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,373 shares of the company’s stock worth $1,506,000 after purchasing an additional 2,507 shares during the period. Harbor Capital Advisors Inc. raised its position in Mohawk Industries by 6.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 65,181 shares of the company’s stock worth $10,473,000 after purchasing an additional 3,918 shares during the period. US Bancorp DE raised its position in Mohawk Industries by 3.9% in the 3rd quarter. US Bancorp DE now owns 3,920 shares of the company’s stock worth $630,000 after purchasing an additional 146 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in Mohawk Industries in the 3rd quarter worth about $446,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.