Mohawk Industries (NYSE:MHK) Price Target Raised to $142.00 at Robert W. Baird

Key Points

• Mohawk Industries has had its price target raised from $130.00 to $142.00 by Robert W. Baird, suggesting a potential upside of 17.33% from its previous close.
• Analysts currently rate Mohawk Industries with a consensus of “Moderate Buy” and an average price target of $141.00, with seven analysts issuing a hold rating and others varying from buy to strong buy.
• The company's recent earnings report showed earnings per share of $2.77, exceeding expectations, and revenue of $2.80 billion, reflecting a 0% increase compared to the prior year.

Mohawk Industries (NYSE:MHK - Get Free Report) had its price target upped by equities research analysts at Robert W. Baird from $130.00 to $142.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 17.33% from the stock's previous close.

A number of other brokerages also recently issued reports on MHK. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Barclays set a $125.00 target price on shares of Mohawk Industries in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 target price for the company. Finally, Royal Bank Of Canada reduced their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average price target of $141.00.

Mohawk Industries Trading Up 4.3%

Shares of MHK stock opened at $121.03 on Monday. Mohawk Industries has a 52-week low of $96.24 and a 52-week 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 company has a 50-day simple moving average of $106.00 and a two-hundred day simple moving average of $111.34. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 4.47 and a beta of 1.18.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. lifted its stake in Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after purchasing an additional 186 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries in the 4th quarter worth approximately $41,000. Brooklyn Investment Group lifted its stake in Mohawk Industries by 2,506.3% in the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after purchasing an additional 401 shares in the last quarter. Allworth Financial LP lifted its stake in Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after purchasing an additional 119 shares in the last quarter. 78.98% of the stock is owned by 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.

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