Mohawk Industries (NYSE:MHK) Given New $115.00 Price Target at Wells Fargo & Company

Mohawk Industries (NYSE:MHK - Free Report) had its price objective hoisted by Wells Fargo & Company from $105.00 to $115.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Barclays decreased their target price on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target on the stock. Wall Street Zen cut Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada cut their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. Seven research 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. According to MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Mohawk Industries Price Performance

MHK stock traded up $1.98 during midday trading on Tuesday, hitting $109.21. 1,040,279 shares of the stock were exchanged, compared to its average volume of 768,420. The stock's 50-day moving average price is $104.13 and its 200-day moving average price is $111.90. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 4.28 and a beta of 1.18. Mohawk Industries has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.13 and a current ratio of 2.01.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. Research analysts predict that Mohawk Industries will post 9.8 earnings per share for the current year.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently made changes to their positions in the stock. Citadel Investment Advisory Inc. grew its holdings in Mohawk Industries by 0.8% in the 1st quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after buying an additional 100 shares in the last quarter. Huntington National Bank boosted its stake in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock worth $66,000 after acquiring an additional 119 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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 worth $3,054,000 after acquiring an additional 120 shares in the last quarter. M&T Bank Corp boosted its stake 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 worth $378,000 after acquiring an additional 122 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake 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 worth $457,000 after acquiring an additional 126 shares in the last quarter. 78.98% of the stock is owned by 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.