Mohawk Industries (MHK) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Mohawk Industries (NYSE: MHK) recently:

• 4/29/2024 – Mohawk Industries had its price target raised by analysts at Royal Bank of Canada from $106.00 to $108.00. They now have a “sector perform” rating on the stock.
• 4/29/2024 – Mohawk Industries had its price target lowered by analysts at Barclays PLC from $122.00 to $120.00. They now have an “equal weight” rating on the stock.
• 4/29/2024 – Mohawk Industries had its price target lowered by analysts at Loop Capital from $140.00 to $135.00. They now have a “buy” rating on the stock.
• 4/29/2024 – Mohawk Industries had its price target raised by analysts at Truist Financial Co. from $127.00 to $140.00. They now have a “buy” rating on the stock.
• 3/4/2024 – Mohawk Industries was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.

Mohawk Industries Price Performance

MHK opened at $114.87 on Thursday. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The company has a market cap of $7.34 billion, a price-to-earnings ratio of -17.56, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $118.97 and a two-hundred day simple moving average of $103.95.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Research analysts predict that Mohawk Industries, Inc. will post 9.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently made changes to their positions in the company. Quarry LP lifted its position in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares in the last quarter. Huntington National Bank increased its stake in 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 buying an additional 143 shares in the last quarter. Allworth Financial LP raised its holdings in Mohawk Industries by 88.1% during the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC lifted its position in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after acquiring an additional 650 shares during the period. 78.98% of the stock is currently owned by institutional investors.

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.