Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Target Price at $140.00

Shares of Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $140.00.

A number of analysts recently issued reports on MHK shares. Royal Bank of Canada lowered their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price target on the stock. Finally, Barclays lowered their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after buying an additional 186 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the fourth quarter worth about $41,000. Brooklyn Investment Group increased its position in Mohawk Industries by 2,506.3% during the first quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after purchasing an additional 401 shares during the last quarter. Huntington National Bank increased its position in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after purchasing an additional 119 shares during the last quarter. Finally, Allworth Financial LP increased its position in Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of MHK stock traded down $3.52 during trading hours on Friday, hitting $101.25. The company's stock had a trading volume of 901,090 shares, compared to its average volume of 761,237. The company has a 50 day moving average of $104.16 and a 200 day moving average of $114.83. The stock has a market cap of $6.33 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $96.24 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

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.