Mohawk Industries (NYSE:MHK) PT Raised to $140.00 at Royal Bank of Canada

Mohawk Industries (NYSE:MHK) had its target price hoisted by Royal Bank of Canada from $108.00 to $140.00 in a research report report published on Monday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other research analysts have also recently weighed in on the company. Bank of America upgraded Mohawk Industries from an underperform rating to a buy rating and lifted their price target for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Loop Capital cut their price objective on Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a research report on Monday, April 29th. Barclays cut their price objective on Mohawk Industries from $120.00 to $118.00 and set an equal weight rating for the company in a research report on Friday, July 12th. Robert W. Baird boosted their price objective on Mohawk Industries from $132.00 to $160.00 and gave the company a neutral rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Mohawk Industries from $122.00 to $124.00 and gave the company a neutral rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of Moderate Buy and an average target price of $153.42.

Mohawk Industries Stock Down 2.8 %

Shares of MHK stock opened at $156.48 on Monday. The stock has a 50 day moving average of $120.64 and a 200 day moving average of $117.26. 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 stock has a market cap of $9.88 billion, a P/E ratio of -23.93, a P/E/G ratio of 1.26 and a beta of 1.38. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.05.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.25. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned $2.76 earnings per share. As a group, sell-side analysts expect that Mohawk Industries will post 9.9 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Mohawk Industries

Hedge funds have recently bought and sold shares of the company. Quarry LP lifted its stake in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after acquiring an additional 174 shares in the last quarter. Quent Capital LLC increased its holdings in Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares during the period. Allworth Financial LP increased its holdings in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares during the period. Signaturefd LLC increased its holdings in Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the period. Finally, AM Squared Ltd purchased a new stake in Mohawk Industries during the 2nd quarter worth about $68,000. Institutional investors and hedge funds 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.