Truist Financial Raises Mohawk Industries (NYSE:MHK) Price Target to $140.00

Mohawk Industries (NYSE:MHK) had its price target upped by research analysts at Truist Financial from $127.00 to $140.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 19.76% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Royal Bank of Canada lifted their price objective on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Barclays lifted their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.63.

Mohawk Industries Trading Up 1.3 %

NYSE:MHK traded up $1.45 during mid-day trading on Monday, hitting $116.90. 35,701 shares of the company’s stock were exchanged, compared to its average volume of 702,197. The company has a 50 day simple moving average of $118.86 and a 200-day simple moving average of $103.36. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The firm has a market capitalization of $7.45 billion, a P/E ratio of -17.87 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 EPS. As a group, research analysts expect that Mohawk Industries will post 9.56 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. 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 Trading of Mohawk Industries

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Mohawk Industries by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock worth $208,000 after acquiring an additional 105 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Mohawk Industries by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock worth $1,993,000 after acquiring an additional 120 shares in the last quarter. Signaturefd LLC grew its stake in shares of Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Mohawk Industries by 2.1% in the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock worth $698,000 after acquiring an additional 136 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after acquiring an additional 143 shares in the last quarter. 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.