Mohawk Industries (NYSE:MHK – Get Free Report) had its price objective hoisted by stock analysts at Truist Financial from $98.00 to $127.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 8.32% from the stock’s current price.
Several other research analysts have also issued reports on the stock. TheStreet lowered shares of Mohawk Industries from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $98.00 to $152.00 in a report on Monday. Barclays raised their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group raised 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. Finally, Wells Fargo & Company dropped their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $116.10.
Check Out Our Latest Research Report on MHK
Mohawk Industries Stock Up 6.6 %
NYSE MHK opened at $117.24 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The firm has a 50-day simple moving average of $102.46 and a 200 day simple moving average of $94.35. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $119.97. The stock has a market cap of $7.47 billion, a PE ratio of -16.94 and a beta of 1.31.
Mohawk Industries (NYSE:MHK – Get Free Report) last released its earnings results on Friday, February 9th. The company reported $1.96 earnings per share 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 analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that Mohawk Industries will post 9.74 EPS for the current year.
Insider Transactions at Mohawk Industries
In other news, insider Suzanne L. Helen sold 5,500 shares of Mohawk Industries stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $94.09, for a total transaction of $517,495.00. Following the transaction, the insider now directly owns 8,953 shares of the company’s stock, valued at $842,387.77. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 17.20% of the company’s stock.
Institutional Investors Weigh In On Mohawk Industries
Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in Mohawk Industries by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the company’s stock valued at $615,000 after buying an additional 224 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Mohawk Industries during the 1st quarter worth about $1,043,000. MetLife Investment Management LLC increased its stake in shares of Mohawk Industries by 23.2% during the 1st quarter. MetLife Investment Management LLC now owns 14,929 shares of the company’s stock worth $1,854,000 after purchasing an additional 2,809 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Mohawk Industries by 98.7% during the 1st quarter. Panagora Asset Management Inc. now owns 10,628 shares of the company’s stock worth $1,320,000 after purchasing an additional 5,280 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Mohawk Industries by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,341 shares of the company’s stock worth $912,000 after buying an additional 455 shares during the period. 77.04% of the stock is owned by institutional investors.
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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