Mohawk Industries (NYSE:MHK) PT Lowered to $155.00

Mohawk Industries (NYSE:MHK) had its price target decreased by equities research analysts at Truist Financial from $184.00 to $155.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 14.58% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and increased their target price for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Loop Capital boosted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.83.

Mohawk Industries Stock Performance

MHK stock traded up $4.40 during trading on Monday, hitting $135.28. 164,512 shares of the company traded hands, compared to its average volume of 706,935. Mohawk Industries has a 1 year low of $76.35 and a 1 year high of $164.29. The company has a market cap of $8.64 billion, a PE ratio of -20.69, a P/E/G ratio of 1.11 and a beta of 1.37. The stock’s 50-day simple moving average is $154.55 and its 200 day simple moving average is $133.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 EPS. On average, equities analysts expect that Mohawk Industries will post 9.98 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,300 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now owns 119,369 shares in the company, valued at approximately $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Suzanne L. Helen sold 2,300 shares of Mohawk Industries stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now owns 119,369 shares in the company, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,660 shares of company stock worth $550,488 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several institutional investors have recently made changes to their positions in MHK. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Mohawk Industries in the first quarter valued at $1,450,000. O Shaughnessy Asset Management LLC acquired a new position in Mohawk Industries in the first quarter valued at about $1,450,000. Sei Investments Co. boosted its stake in Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock worth $8,209,000 after buying an additional 59,790 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Mohawk Industries by 20.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock valued at $8,043,000 after acquiring an additional 10,274 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Mohawk Industries by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after acquiring an additional 17,541 shares during the period. Hedge funds and other 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.