Mohawk Industries (NYSE:MHK) Price Target Cut to $150.00 by Analysts at Bank of America

Mohawk Industries (NYSE:MHK) had its price target decreased by equities research analysts at Bank of America from $152.00 to $150.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 25.71% from the company’s current price.

A number of other equities analysts have also recently issued reports on MHK. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Loop Capital lowered their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Truist Financial lowered their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $151.00 to $161.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company decreased their price target on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.29.

Mohawk Industries Price Performance

MHK stock opened at $119.32 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 1 year low of $104.88 and a 1 year high of $164.29. The firm has a 50-day moving average of $123.61 and a 200 day moving average of $140.24. The company has a market cap of $7.53 billion, a P/E ratio of 14.68, a PEG ratio of 1.60 and a beta of 1.41.

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

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 19,078 shares of company stock valued at $2,474,347 over the last ninety days. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MHK. EntryPoint Capital LLC purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $294,000. Vanguard Group Inc. boosted its holdings in Mohawk Industries by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock valued at $742,154,000 after purchasing an additional 20,327 shares in the last quarter. LPL Financial LLC raised its stake in Mohawk Industries by 11.3% during the 4th quarter. LPL Financial LLC now owns 12,569 shares of the company’s stock worth $1,497,000 after acquiring an additional 1,273 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Mohawk Industries in the 4th quarter valued at about $1,310,000. Finally, AXQ Capital LP boosted its holdings in shares of Mohawk Industries by 54.6% in the fourth quarter. AXQ Capital LP now owns 4,147 shares of the company’s stock valued at $494,000 after acquiring an additional 1,465 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.