Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) Price Target at $156.00

Mohawk Industries, Inc. (NYSE:MHK) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $156.00.

A number of research analysts have recently issued reports on MHK shares. Wells Fargo & Company lifted their price objective on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Loop Capital boosted their target price on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group upped their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares in the company, valued at $18,042,624.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now owns 119,369 shares of the company’s stock, valued at $18,042,624.35. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 over the last 90 days. 17.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Mohawk Industries by 78.1% during the 4th quarter. Victory Capital Management Inc. now owns 16,980 shares of the company’s stock valued at $1,757,000 after acquiring an additional 7,446 shares during the period. M&T Bank Corp grew its holdings in Mohawk Industries by 7.3% in the fourth quarter. M&T Bank Corp now owns 2,718 shares of the company’s stock valued at $281,000 after purchasing an additional 184 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Mohawk Industries by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,652 shares of the company’s stock valued at $55,129,000 after buying an additional 22,616 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Mohawk Industries by 74.1% during the 4th quarter. Teacher Retirement System of Texas now owns 7,284 shares of the company’s stock worth $754,000 after buying an additional 3,099 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Mohawk Industries by 5.5% during the 4th quarter. BNP Paribas Financial Markets now owns 50,585 shares of the company’s stock valued at $5,236,000 after buying an additional 2,648 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Up 1.0 %

Mohawk Industries stock opened at $158.17 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.10 billion, a P/E ratio of -24.19, a P/E/G ratio of 1.15 and a beta of 1.37. The business has a fifty day moving average of $147.37 and a two-hundred day moving average of $127.66. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.05.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the business posted $2.76 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that Mohawk Industries will post 10 earnings per share for the current fiscal year.

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, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.