Wells Fargo & Company Raises Mohawk Industries (NYSE:MHK) Price Target to $140.00

Mohawk Industries (NYSE:MHK) had its target price increased by Wells Fargo & Company from $110.00 to $140.00 in a report published on Monday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research analysts have also weighed in on the stock. Bank of America raised shares of Mohawk Industries from an underperform rating to a buy rating and raised their target price for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Truist Financial raised their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a buy rating in a research note on Monday. Loop Capital decreased their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a buy rating on the stock in a research note on Monday, April 29th. Robert W. Baird raised their target price on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a neutral rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $153.42.

Mohawk Industries Trading Down 2.8 %

Shares of Mohawk Industries stock opened at $156.48 on Monday. The firm has a market capitalization of $9.99 billion, a PE ratio of -23.93, a P/E/G ratio of 1.29 and a beta of 1.38. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.05. The firm’s 50-day moving average price is $120.64 and its 200 day moving average price is $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.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $2.76 EPS. On average, sell-side analysts predict that Mohawk Industries will post 9.77 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cock Paul F. De 1,118 shares of the business’s stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors have recently modified their holdings of the business. Quarry LP grew its stake in shares of Mohawk Industries by 70.4% in the fourth 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. Allworth Financial LP grew its stake in shares of Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC grew its stake in shares of Mohawk Industries by 29.4% during the fourth 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 grew its stake in shares of Mohawk Industries by 27.2% during the first 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 grew its stake in shares of Mohawk Industries by 32,500.0% during the fourth 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 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.