Mohawk Industries, Inc. (NYSE:MHK) Receives $140.00 Consensus Price Target from Brokerages

Mohawk Industries, Inc. (NYSE:MHK) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $140.00.

A number of analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Barclays cut their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. Robert W. Baird cut their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th.

Mohawk Industries Trading Up 3.4%

NYSE MHK opened at $104.56 on Wednesday. The firm’s 50-day moving average is $106.70 and its two-hundred day moving average is $118.26. Mohawk Industries has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The stock has a market capitalization of $6.54 billion, a P/E ratio of 12.86, a PEG ratio of 1.44 and a beta of 1.24.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the transaction, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This represents a 10.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MHK. Federated Hermes Inc. increased its stake in shares of Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock valued at $28,000 after acquiring an additional 186 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $41,000. Brooklyn Investment Group increased its position in Mohawk Industries by 2,506.3% during 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 increased its position in Mohawk Industries by 36.2% during 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, R Squared Ltd acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

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.