Mohawk Industries, Inc. (NYSE:MHK) Stock Has Average Price Target of $133.75

Mohawk Industries, Inc. (NYSE:MHK) has earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $138.92.

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company increased their price target on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada lowered Mohawk Industries from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $130.00 to $112.00 in a research report on Wednesday, October 7th. Truist Financial increased their price target on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday.

Mohawk Industries Trading Down 2.3%

MHK opened at $145.11 on Wednesday. The firm has a market cap of $8.44 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.13 and a beta of 1.18. The company has a quick ratio of 1.09, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $126.18 and a 200-day simple moving average of $116.84. Mohawk Industries has a 52 week low of $92.99 and a 52 week high of $151.24.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.14. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.67 earnings per share. On average, equities analysts expect that Mohawk Industries will post 9.78 earnings per share for the current year.

Mohawk Industries News Summary

Here are the key news stories impacting Mohawk Industries this week:

• Positive Sentiment: Evercore ISI upgraded Mohawk to Outperform from In Line, citing an expected $1.1 billion buyback outlook—a potential source of shareholder returns and support for the stock. Evercore upgrade and buyback outlook
• Neutral Sentiment: Barclays raised its price target to $125 from $115 but kept an Equal Weight rating; Baird raised its target to $142 from $132 and maintained Neutral. Both targets remain below the share price cited in the reports, tempering the significance of the increases. Barclays rating Baird rating
• Negative Sentiment: Director Bernard Thiers sold 15,000 shares for about $2.16 million, reducing his direct stake by roughly 16%. Insider sales can raise concerns, although the filing does not establish the reason for the transaction. Mohawk insider share sale

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 1,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $139.48, for a total value of $139,480.00. Following the sale, the insider owned 6,132 shares of the company’s stock, valued at $855,291.36. This trade represents a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $144.05, for a total value of $2,160,750.00. Following the sale, the director directly owned 78,633 shares in the company, valued at $11,327,083.65. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,300 shares of company stock worth $14,062,201 in the last three months. 17.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Mohawk Industries in the 2nd quarter valued at $777,293,000. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock valued at $316,962,000 after acquiring an additional 80,761 shares during the last quarter. Pzena Investment Management LLC bought a new position in Mohawk Industries in the second quarter valued at about $138,661,000. Canada Pension Plan Investment Board acquired a new stake in Mohawk Industries in the second quarter worth about $80,880,000. Finally, Bank of America Corp DE raised its holdings in Mohawk Industries by 68.0% during the 1st quarter. Bank of America Corp DE now owns 444,345 shares of the company’s stock worth $43,750,000 after purchasing an additional 179,925 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.