Mohawk Industries (NYSE:MHK) Price Target Increased to $140.00 by Analysts at Truist Financial

Mohawk Industries (NYSE:MHK) had its price target boosted by Truist Financial from $127.00 to $140.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a research note on Monday. Wells Fargo & Company decreased their price target on Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a report on Monday, January 22nd. The Goldman Sachs Group raised their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, January 11th. StockNews.com upgraded shares of Mohawk Industries from a hold rating to a buy rating in a research report on Saturday, February 17th. Finally, TheStreet upgraded shares of Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. 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. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $121.00.

Mohawk Industries Trading Up 2.6 %

NYSE MHK opened at $118.43 on Monday. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The business has a 50 day simple moving average of $118.92 and a two-hundred day simple moving average of $103.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. Mohawk Industries’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. On average, sell-side analysts anticipate that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the business’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 completion of the transaction, the vice president now 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 accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of large investors have recently added to or reduced their stakes in MHK. Quarry LP grew its holdings in shares of Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after buying an additional 174 shares during the last quarter. Huntington National Bank lifted 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 period. Allworth Financial LP grew its stake in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares during the last quarter. Signaturefd LLC increased 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 purchasing an additional 128 shares during the period. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares during the period. 78.98% of the stock is currently owned by institutional investors.

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.