Mohawk Industries, Inc. (NYSE:MHK – Get Free Report) shares rose 7.7% during trading on Wednesday . The company traded as high as $118.89 and last traded at $117.0310. 64,013 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 897,385 shares. The stock had previously closed at $108.66.
Analysts Set New Price Targets
MHK has been the topic of a number of research analyst reports. Zacks Research raised shares of Mohawk Industries from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. Truist Financial reduced their price target on Mohawk Industries from $155.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $143.00 to $138.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Evercore set a $110.00 price objective on Mohawk Industries in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of “Hold” and a consensus target price of $123.33.
Read Our Latest Research Report on MHK
Mohawk Industries Stock Up 1.5%
Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. Mohawk Industries had a net margin of 3.77% and a return on equity of 6.96%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the firm earned $1.52 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 8.71 earnings per share for the current fiscal year.
Insider Activity at Mohawk Industries
In other Mohawk Industries news, insider Suzanne L. Helen sold 16,600 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $112.97, for a total transaction of $1,875,302.00. Following the transaction, the insider owned 14,132 shares in the company, valued at $1,596,492.04. This trade represents a 54.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 4,500 shares of Mohawk Industries stock in a transaction on Monday, June 15th. The stock was sold at an average price of $112.08, for a total value of $504,360.00. Following the sale, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at $2,241,600. This represents a 18.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 40,186 shares of company stock valued at $4,460,321. 17.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Mohawk Industries
Hedge funds have recently bought and sold shares of the business. Bayforest Capital Ltd acquired a new position in shares of Mohawk Industries during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC increased its holdings in shares of Mohawk Industries by 950.0% during the fourth quarter. Global Retirement Partners LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 228 shares during the period. Basecamp Wealth Advisors LLC raised its position in shares of Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of Mohawk Industries by 216.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 275 shares of the company’s stock valued at $30,000 after buying an additional 188 shares during the period. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Mohawk Industries by 105.7% in the first quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock valued at $32,000 after buying an additional 166 shares during the period. 78.98% of the stock is owned by institutional investors.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.
The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.
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