Mohawk Industries, Inc. (NYSE:MHK) Receives $117.56 Consensus Target Price from Brokerages

Shares of Mohawk Industries, Inc. (NYSE:MHK) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $117.56.

A number of research analysts recently commented on MHK shares. Royal Bank of Canada increased their price target on Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. Truist Financial upped their price objective on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Finally, Wells Fargo & Company dropped their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 22nd.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $130.89 on Friday. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The business has a 50-day moving average of $114.64 and a 200-day moving average of $98.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of -18.91 and a beta of 1.33.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 earnings per share. On average, equities analysts anticipate that Mohawk Industries will post 9.59 EPS for the current fiscal year.

Insider Activity

In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.20% of the company’s stock.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd raised its holdings in Mohawk Industries by 1.0% during the fourth quarter. Quadrature Capital Ltd now owns 37,141 shares of the company’s stock valued at $3,844,000 after buying an additional 350 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Mohawk Industries by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,769 shares of the company’s stock valued at $597,000 after buying an additional 184 shares in the last quarter. Vanguard Group Inc. raised its holdings in Mohawk Industries by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company’s stock valued at $645,854,000 after buying an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Mohawk Industries by 48.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock valued at $31,349,000 after buying an additional 98,920 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. raised its holdings in Mohawk Industries by 0.7% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 129,223 shares of the company’s stock valued at $13,375,000 after buying an additional 862 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Company Profile

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.