Loop Capital Cuts Mohawk Industries (NYSE:MHK) Price Target to $135.00

Mohawk Industries (NYSE:MHK - Get Free Report) had its price objective decreased by stock analysts at Loop Capital from $140.00 to $135.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. Loop Capital's price objective would indicate a potential upside of 13.99% from the company's current price.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a "d+" rating to a "c-" rating in a research note on Monday, March 4th. Truist Financial increased their target price on Mohawk Industries from $127.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank of Canada lifted their price target on Mohawk Industries from $106.00 to $108.00 and gave the company a "sector perform" rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of "Hold" and a consensus target price of $121.00.

Mohawk Industries Stock Up 2.6 %

Shares of Mohawk Industries stock traded up $2.98 on Monday, hitting $118.43. The company had a trading volume of 1,027,304 shares, compared to its average volume of 714,499. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -18.11 and a beta of 1.34. The stock has a 50 day moving average of $118.92 and a 200-day moving average of $103.64. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently added to or reduced their stakes in MHK. Pacer Advisors Inc. increased its position in shares of Mohawk Industries by 1,152.0% during the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company's stock valued at $82,462,000 after purchasing an additional 733,097 shares during the last quarter. Norges Bank purchased a new position in shares of Mohawk Industries during the fourth quarter worth approximately $68,050,000. Dimensional Fund Advisors LP boosted its stake in shares of Mohawk Industries by 14.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company's stock valued at $254,543,000 after purchasing an additional 317,278 shares in the last quarter. Paradice Investment Management LLC grew its holdings in shares of Mohawk Industries by 52.4% during the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company's stock valued at $44,494,000 after purchasing an additional 178,310 shares during the last quarter. Finally, ARGA Investment Management LP raised its position in Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company's stock worth $51,766,000 after purchasing an additional 168,401 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

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.