Mohawk Industries (NYSE:MHK) Price Target Raised to $140.00 at Wells Fargo & Company

Key Points

• The price target for Mohawk Industries has been raised by Wells Fargo & Company from $120.00 to $140.00, indicating a potential upside of 3.45% from its current price.
• In its latest earnings report, Mohawk Industries exceeded expectations with $2.77 earnings per share, surpassing the consensus estimate of $2.62.
• The company currently has a consensus rating of "Moderate Buy" and a target price of $141.93, with strong interest from institutional investors, owning approximately 78.98% of the stock.

Mohawk Industries (NYSE:MHK - Free Report) had its target price upped by Wells Fargo & Company from $120.00 to $140.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Barclays boosted their target price on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Robert W. Baird boosted their target price on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Evercore ISI cut their price target on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research note on Monday, July 28th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Mohawk Industries has a consensus rating of "Moderate Buy" and a consensus price target of $141.93.

Mohawk Industries Trading Down 1.5%

NYSE:MHK traded down $2.00 on Thursday, reaching $135.09. The company's stock had a trading volume of 135,377 shares, compared to its average volume of 798,677. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. The firm has a market cap of $8.39 billion, a PE ratio of 17.95, a PEG ratio of 2.96 and a beta of 1.25. The business's 50-day moving average price is $123.93 and its two-hundred day moving average price is $112.83.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.Mohawk Industries's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Equities research analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the sale, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 700 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total transaction of $89,635.00. Following the sale, the vice president owned 17,804 shares of the company's stock, valued at approximately $2,279,802.20. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,791 shares of company stock valued at $4,357,225 over the last ninety days. 17.40% of the stock is currently owned by insiders.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Mohawk Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock worth $414,017,000 after buying an additional 410,388 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Mohawk Industries by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company's stock valued at $338,444,000 after purchasing an additional 213,429 shares in the last quarter. Invesco Ltd. increased its stake in shares of Mohawk Industries by 7.4% during the second quarter. Invesco Ltd. now owns 1,957,197 shares of the company's stock valued at $205,192,000 after purchasing an additional 135,246 shares in the last quarter. State Street Corp increased its stake in shares of Mohawk Industries by 2.1% during the second quarter. State Street Corp now owns 1,915,831 shares of the company's stock valued at $200,856,000 after purchasing an additional 39,556 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Mohawk Industries by 28.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,820,314 shares of the company's stock valued at $190,842,000 after purchasing an additional 398,349 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.