Mohawk Industries, Inc. (NYSE:MHK) Receives $122.50 Consensus PT from Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $153.42.

MHK has been the subject of several analyst reports. Barclays increased their target price on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company raised their price objective on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Royal Bank of Canada raised their price objective on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the transaction, the insider now owns 122,369 shares in the company, valued at $13,673,512.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently modified their holdings of the company. Truist Financial Corp boosted its position in shares of Mohawk Industries by 72.1% in the fourth quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after acquiring an additional 123,508 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Mohawk Industries in the first quarter valued at approximately $1,450,000. O Shaughnessy Asset Management LLC bought a new position in shares of Mohawk Industries in the first quarter valued at approximately $1,450,000. Sei Investments Co. boosted its position in shares of Mohawk Industries by 2,040.6% in the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after acquiring an additional 59,790 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Mohawk Industries by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock valued at $31,349,000 after acquiring an additional 98,920 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Up 1.2 %

Shares of NYSE MHK opened at $162.70 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $118.91 and its 200 day simple moving average is $116.52. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $163.59. The firm has a market cap of $10.39 billion, a PE ratio of -24.88, a P/E/G ratio of 1.88 and a beta of 1.38.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company posted $2.76 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Mohawk Industries will post 9.49 earnings per share for the current fiscal year.

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.