Several other research firms have also weighed in on MHK. Truist Financial dropped their price target on Mohawk Industries from $130.00 to $105.00 and set a buy rating on the stock in a research report on Tuesday, October 17th. Barclays upgraded shares of Mohawk Industries from an underweight rating to an equal weight rating and raised their price target for the stock from $80.00 to $100.00 in a report on Wednesday, December 13th. Royal Bank of Canada upgraded shares of Mohawk Industries from an underperform rating to a sector perform rating and upped their price objective for the company from $80.00 to $101.00 in a research note on Friday, January 12th. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research note on Monday, January 22nd. Finally, TheStreet downgraded shares of Mohawk Industries from a c- rating to a d+ rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries currently has an average rating of Hold and an average target price of $113.90.
Mohawk Industries Price Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Mohawk Industries will post 9.74 earnings per share for the current year.
Insider Transactions at Mohawk Industries
In related news, insider Suzanne L. Helen sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $94.09, for a total value of $517,495.00. Following the completion of the sale, the insider now directly owns 8,953 shares in the company, valued at approximately $842,387.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Alberta Investment Management Corp grew its position in shares of Mohawk Industries by 16.1% in the fourth quarter. Alberta Investment Management Corp now owns 109,811 shares of the company’s stock valued at $11,365,000 after purchasing an additional 15,247 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after buying an additional 650 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Mohawk Industries by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,455 shares of the company’s stock worth $2,428,000 after buying an additional 230 shares during the period. Olympiad Research LP acquired a new position in shares of Mohawk Industries during the fourth quarter worth approximately $429,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $6,574,000. Institutional investors own 77.04% 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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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