Mohawk Industries (NYSE:MHK) Price Target Cut to $135.00 by Analysts at Loop Capital

Mohawk Industries (NYSE:MHK) had its target price lowered by Loop Capital from $140.00 to $135.00 in a research report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a hold rating to a buy rating and boosted their target price for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Truist Financial increased their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a buy rating in a research note on Monday. Barclays raised their target price on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Wells Fargo & Company lowered their target price on Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a report on Monday, January 22nd. Finally, Royal Bank of Canada raised their price target on Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $121.00.

Mohawk Industries Price Performance

NYSE:MHK opened at $118.43 on Monday. The stock has a 50-day simple moving average of $118.92 and a 200 day simple moving average of $103.64. Mohawk Industries has a one year low of $76.02 and a one year high of $131.19. 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 (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 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 analyst estimates 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 was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. Sell-side analysts forecast that Mohawk Industries will post 9.56 EPS for the current year.

Insider Activity

In related 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its position in Mohawk Industries by 70.4% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares during the period. Huntington National Bank increased its position in shares of Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the period. Allworth Financial LP raised its stake in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds 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.