Mohawk Industries (NYSE:MHK) PT Raised to $140.00

Mohawk Industries (NYSE:MHK - Get Free Report) had its price target hoisted by equities research analysts at Truist Financial from $127.00 to $140.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 18.21% from the company's previous close.

Several other research firms also recently issued reports on MHK. Barclays upped their price target on Mohawk Industries from $100.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. The Goldman Sachs Group increased their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. Royal Bank of Canada increased their target price on Mohawk Industries from $106.00 to $108.00 and gave the company a "sector perform" rating in a research note on Monday. Wells Fargo & Company decreased their target price on Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating for the company in a research note on Monday, January 22nd. Finally, StockNews.com upgraded Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Saturday, February 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.00.

Mohawk Industries Stock Up 2.6 %

NYSE MHK traded up $2.98 on Monday, reaching $118.43. The stock had a trading volume of 1,027,304 shares, compared to its average volume of 714,499. The business has a 50 day moving average price of $118.86 and a 200 day moving average price of $103.36. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of -18.19 and a beta of 1.34.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 EPS. On average, analysts forecast that Mohawk Industries will post 9.56 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company's stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.10% of the company's stock.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its position in Mohawk Industries by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company's stock worth $208,000 after acquiring an additional 105 shares during the last quarter. Treasurer of the State of North Carolina grew its position in Mohawk Industries by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company's stock worth $1,993,000 after acquiring an additional 120 shares during the last quarter. Signaturefd LLC grew its position in Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company's stock worth $58,000 after acquiring an additional 128 shares during the last quarter. SG Americas Securities LLC grew its position in Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company's stock worth $698,000 after acquiring an additional 136 shares during the last quarter. Finally, Huntington National Bank grew its position in Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company's stock worth $46,000 after acquiring an additional 143 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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.