Mohawk Industries (NYSE:MHK) PT Lowered to $135.00 at Loop Capital

Mohawk Industries (NYSE:MHK) had its target price reduced by analysts at Loop Capital from $140.00 to $135.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s target price points to a potential upside of 14.08% from the company’s current price.

A number of other analysts also recently weighed in on MHK. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Royal Bank of Canada lifted their price objective on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $121.00.

Mohawk Industries Stock Up 2.5 %

NYSE:MHK traded up $2.89 during trading hours on Monday, hitting $118.34. The stock had a trading volume of 327,845 shares, compared to its average volume of 705,872. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19. The business has a 50 day simple moving average of $118.86 and a two-hundred day simple moving average of $103.36. The company has a market cap of $7.54 billion, a PE ratio of -18.19 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the company earned $1.75 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Analysts predict that Mohawk Industries will post 9.56 EPS for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares in the last quarter. Huntington National Bank raised its stake in shares of Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares in the last quarter. Allworth Financial LP raised 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 valued at $54,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC raised 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 valued at $58,000 after purchasing an additional 128 shares in the last quarter. Finally, TFO Wealth Partners LLC raised 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 valued at $67,000 after purchasing an additional 650 shares in the last quarter. 78.98% of the stock is currently owned by 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.