Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) PT at $157.67

Mohawk Industries, Inc. (NYSE:MHK) has received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $163.25.

Several analysts have recently commented on MHK shares. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays lifted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price objective on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Loop Capital raised their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Mohawk Industries during the 1st quarter worth $1,450,000. O Shaughnessy Asset Management LLC acquired a new position in Mohawk Industries in the first quarter worth $1,450,000. Sei Investments Co. increased its position in Mohawk Industries by 2,040.6% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. raised its stake 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 worth $31,349,000 after acquiring an additional 98,920 shares during the last quarter. Finally, Point72 Europe London LLP acquired a new position in shares of Mohawk Industries during the fourth quarter worth approximately $679,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Trading Up 0.6 %

Shares of MHK stock opened at $158.18 on Tuesday. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $164.05. The firm has a market cap of $10.10 billion, a PE ratio of -24.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. The company has a 50-day moving average of $152.96 and a two-hundred day moving average of $131.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data 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 business 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%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. On average, analysts predict that Mohawk Industries will post 10 EPS for the current year.

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.