Mohawk Industries (NYSE:MHK) PT Raised to $108.00 at Royal Bank of Canada

Mohawk Industries (NYSE:MHK) had its price objective raised by equities researchers at Royal Bank of Canada from $106.00 to $108.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 6.35% from the company’s current price.

MHK has been the topic of several other reports. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Deutsche Bank Aktiengesellschaft raised 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 report on Monday, February 12th. Barclays boosted their target price on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group boosted their target price on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Mohawk Industries has an average rating of “Hold” and a consensus price target of $121.00.

Mohawk Industries Stock Down 2.6 %

Shares of MHK opened at $115.32 on Monday. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of -17.63 and a beta of 1.34. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The business’s 50 day simple moving average is $118.95 and its 200-day simple moving average is $103.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. The business 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 company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. As a group, equities analysts expect that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction 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 transaction, the vice president now 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 hyperlink. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

Several hedge funds have recently bought and sold shares of MHK. Pacer Advisors Inc. grew its position in Mohawk Industries by 1,152.0% in the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares during the last quarter. Norges Bank purchased a new position in shares of Mohawk Industries during the fourth quarter valued at $68,050,000. Dimensional Fund Advisors LP increased its stake in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock valued at $254,543,000 after buying an additional 317,278 shares during the period. Paradice Investment Management LLC increased its stake in shares of Mohawk Industries by 52.4% during the third quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after buying an additional 178,310 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of Mohawk Industries by 50.8% during the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after buying an additional 168,401 shares during the period. 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.