Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Price Target at $146.92

Shares of Mohawk Industries, Inc. (NYSE:MHK) have earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $145.07.

A number of research firms have commented on MHK. The Goldman Sachs Group cut their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Evercore ISI lowered their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Truist Financial cut their price target on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, February 10th.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $107.96 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The company has a market capitalization of $6.76 billion, a PE ratio of 13.28, a P/E/G ratio of 1.44 and a beta of 1.44. The company has a 50 day moving average price of $117.66 and a 200-day moving average price of $131.37. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities analysts forecast that Mohawk Industries will post 9.8 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new position in Mohawk Industries during the 4th quarter worth approximately $41,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Mohawk Industries during the third quarter worth $55,000. Versant Capital Management Inc raised its holdings in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares during the last quarter. R Squared Ltd acquired a new position in Mohawk Industries during the fourth quarter valued at $66,000. Finally, Huntington National Bank boosted its holdings in Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.