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

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $140.00.

Several research firms recently commented on MHK. Royal Bank Of Canada reduced their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Barclays reduced their price objective on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective for the company.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the company. Citadel Investment Advisory Inc. lifted its position in shares of Mohawk Industries by 0.8% during the 1st quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock valued at $1,467,000 after buying an additional 100 shares in the last quarter. Huntington National Bank lifted its position in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after buying an additional 119 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Mohawk Industries by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock valued at $3,054,000 after buying an additional 120 shares in the last quarter. M&T Bank Corp lifted its position in shares of Mohawk Industries by 3.8% during the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock valued at $378,000 after buying an additional 122 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Mohawk Industries by 3.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after buying an additional 126 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Down 0.5%

Shares of NYSE:MHK traded down $0.45 on Friday, hitting $97.98. 1,317,287 shares of the company traded hands, compared to its average volume of 767,497. Mohawk Industries has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $103.82 and a 200-day simple moving average of $114.19. The company has a market cap of $6.13 billion, a PE ratio of 12.82, a PEG ratio of 3.80 and a beta of 1.19.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $1.86 earnings per share. The company's revenue was down 5.7% on a year-over-year basis. As a group, research analysts expect that Mohawk Industries will post 9.8 earnings per share for the current year.

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.