Mohawk Industries (NYSE:MHK) Given New $125.00 Price Target at Barclays

Mohawk Industries (NYSE:MHK) had its price target lowered by analysts at Barclays from $130.00 to $125.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 3.77% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $151.00 to $161.00 in a report on Friday, January 10th. Royal Bank of Canada cut their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group decreased their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Truist Financial decreased their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.77.

Mohawk Industries Trading Down 1.2 %

MHK stock opened at $120.46 on Monday. Mohawk Industries has a 52-week low of $101.83 and a 52-week high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.60 billion, a P/E ratio of 14.82, a PEG ratio of 1.60 and a beta of 1.41. The company’s 50-day simple moving average is $124.30 and its 200-day simple moving average is $140.65.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, equities analysts forecast that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 19,078 shares of company stock worth $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC purchased a new stake in Mohawk Industries in the third quarter valued at $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth about $55,000. Blue Trust Inc. lifted its position in Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC acquired a new position in Mohawk Industries in the third quarter valued at about $61,000. Finally, Versant Capital Management Inc increased its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after acquiring an additional 223 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other 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.