Truist Financial Boosts Mohawk Industries (NYSE:MHK) Price Target to $184.00

Mohawk Industries (NYSE:MHK) had its target price lifted by Truist Financial from $135.00 to $184.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on MHK. Loop Capital dropped their target price on Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on Mohawk Industries from $122.00 to $124.00 and gave the company a neutral rating in a report on Friday, May 3rd. Bank of America upgraded Mohawk Industries from an underperform rating to a buy rating and increased their target price for the company from $120.00 to $177.00 in a report on Friday, July 26th. Barclays dropped their target price on Mohawk Industries from $120.00 to $118.00 and set an equal weight rating for the company in a report on Friday, July 12th. Finally, Raymond James upgraded Mohawk Industries from a market perform rating to a strong-buy rating and set a $140.00 target price for the company in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $153.42.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $161.07 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $10.17 billion, a PE ratio of -24.63, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38. The business’s 50-day moving average price is $119.76 and its 200-day moving average price is $116.95. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $164.05.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.76 EPS. Sell-side analysts forecast that Mohawk Industries will post 9.68 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total value of $201,132.00. Following the completion of the transaction, the insider now owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total value of $201,132.00. Following the completion of the transaction, the insider now owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cock Paul F. De 1,118 shares of the stock in a transaction dated Monday, July 29th. The disclosure for this trade can be found here. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Quarry LP increased its position in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after buying an additional 174 shares in the last quarter. Allworth Financial LP increased its position in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in shares of Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.