Mohawk Industries (NYSE:MHK – Get Free Report) had its target price increased by Barclays from $115.00 to $125.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 15.75% from the stock’s previous close.
Several other research firms have also weighed in on MHK. Robert W. Baird increased their price target on Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Monday. Royal Bank Of Canada cut shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $130.00 to $112.00 in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Bank of America restated a “neutral” rating on shares of Mohawk Industries in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $138.92.
View Our Latest Report on Mohawk Industries
Mohawk Industries Price Performance
Shares of Mohawk Industries stock traded up $8.95 during trading on Monday, reaching $148.36. 2,520,754 shares of the stock traded hands, compared to its average volume of 969,787. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.00 and a beta of 1.18. The business has a fifty day simple moving average of $125.73 and a two-hundred day simple moving average of $116.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. Mohawk Industries has a 52-week low of $92.99 and a 52-week high of $151.25.
Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.14. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $2.67 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts expect that Mohawk Industries will post 9.80 EPS for the current year.
Insider Transactions at Mohawk Industries
In related news, Director Bernard Thiers sold 13,393 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total value of $1,807,787.14. Following the completion of the transaction, the director owned 93,633 shares of the company’s stock, valued at $12,638,582.34. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 45,750 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $127.18, for a total value of $5,818,485.00. Following the sale, the chief executive officer owned 78,425 shares of the company’s stock, valued at approximately $9,974,091.50. This represents a 36.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 106,693 shares of company stock valued at $13,709,238. 17.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. boosted its position in Mohawk Industries by 14.4% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 732 shares of the company’s stock valued at $91,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Mohawk Industries by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $560,000 after purchasing an additional 101 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after purchasing an additional 121 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries during the second quarter valued at about $25,000. Finally, VestGen Advisors LLC lifted its position in shares of Mohawk Industries by 13.5% during the third quarter. VestGen Advisors LLC now owns 1,878 shares of the company’s stock valued at $234,000 after buying an additional 223 shares during the last quarter. 78.98% of the stock is owned by institutional investors.
About Mohawk Industries
Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.
Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.
The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.
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