Mohawk Industries (NYSE:MHK) Price Target Raised to $125.00

Mohawk Industries (NYSE:MHK) had its price target raised by Barclays from $115.00 to $125.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts also recently commented on the company. Bank of America reiterated a “neutral” rating on shares of Mohawk Industries in a research report on Monday. Wells Fargo & Company upped their target price on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Melius Research assumed coverage on Mohawk Industries in a research report on Tuesday, October 6th. They issued a “buy” rating and a $188.00 target price for the company. Royal Bank Of Canada cut Mohawk Industries from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $130.00 to $112.00 in a research report on Wednesday, October 7th. Finally, Robert W. Baird lifted their price target on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Hold” and an average price target of $138.92.

Mohawk Industries Trading Up 5.5%

Shares of Mohawk Industries stock opened at $153.38 on Monday. The company’s fifty day simple moving average is $126.57 and its 200-day simple moving average is $116.99. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.95 and a beta of 1.18. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Mohawk Industries has a 1 year low of $92.99 and a 1 year high of $154.46.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted $2.67 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Mohawk Industries will post 9.76 EPS for the current year.

Insider Activity

In related news, Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $144.05, for a total transaction of $2,160,750.00. Following the completion of the transaction, the director directly owned 78,633 shares of the company’s stock, valued at $11,327,083.65. This trade represents a 16.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey S. Lorberbaum sold 10,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $148.34, for a total transaction of $1,483,400.00. Following the completion of the transaction, the director owned 69,625 shares in the company, valued at approximately $10,328,172.50. This trade represents a 12.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 118,300 shares of company stock worth $15,545,601. Corporate insiders own 17.90% of the company’s stock.

Institutional Trading of Mohawk Industries

Several hedge funds have recently modified their holdings of MHK. Lido Advisors LLC boosted its stake in Mohawk Industries by 94.4% in the third quarter. Lido Advisors LLC now owns 4,127 shares of the company’s stock valued at $515,000 after acquiring an additional 2,004 shares during the last quarter. New York Life Investment Management LLC grew its holdings in Mohawk Industries by 14.5% during the 3rd quarter. New York Life Investment Management LLC now owns 7,353 shares of the company’s stock worth $917,000 after acquiring an additional 932 shares during the period. AlphaCore Capital LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at $291,000. Fulcrum Asset Management LLP grew its stake in shares of Mohawk Industries by 1,204.0% during the third quarter. Fulcrum Asset Management LLP now owns 17,304 shares of the company’s stock worth $2,160,000 after purchasing an additional 15,977 shares during the period. Finally, Ethic Inc. increased its holdings in Mohawk Industries by 35.6% in the third quarter. Ethic Inc. now owns 4,700 shares of the company’s stock valued at $586,000 after purchasing an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Key Mohawk Industries News

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded MHK to Outperform from In Line, pointing to an expected $1.1 billion share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
• Neutral Sentiment: Baird raised its price target to $142 from $132 but kept a Neutral rating. Barclays lifted its target to $125 from $115 and maintained Equal Weight. The higher targets are positive revisions, though both firms remain cautious. Baird price target update Barclays price target update
• Negative Sentiment: Two directors sold a combined 25,000 shares for approximately $3.64 million. Bernard Thiers reduced his stake by about 16%, and Jeffrey Lorberbaum’s sale lowered his position by roughly 13%. Insider sales can concern investors, although the filings do not state the reasons for the transactions. Director share sales Lorberbaum SEC filing

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.