Barclays Cuts Mohawk Industries (NYSE:MHK) Price Target to $146.00

Mohawk Industries (NYSE:MHK) had its price target reduced by analysts at Barclays from $161.00 to $146.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 8.63% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price target on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Truist Financial dropped their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Loop Capital boosted their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus target price of $162.58.

Mohawk Industries Price Performance

Shares of NYSE:MHK traded up $3.52 during trading on Monday, reaching $134.40. The stock had a trading volume of 317,353 shares, compared to its average volume of 707,977. The business has a fifty day moving average price of $154.55 and a 200-day moving average price of $133.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The stock has a market cap of $8.58 billion, a PE ratio of -20.45, a PEG ratio of 1.11 and a beta of 1.37. Mohawk Industries has a 1-year low of $76.35 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results 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. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 earnings per share. On average, equities analysts forecast that Mohawk Industries will post 9.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Suzanne L. Helen sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the sale, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,660 shares of company stock valued at $550,488 in the last ninety days. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Large investors have recently bought and sold shares of the business. Quest Partners LLC boosted its position in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Headlands Technologies LLC purchased a new position in Mohawk Industries in the second quarter valued at approximately $50,000. Blue Trust Inc. increased its stake in Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. Quent Capital LLC increased its stake in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the last quarter. Finally, AM Squared Ltd acquired a new stake in Mohawk Industries during the second quarter worth approximately $68,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.