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Mohawk Industries (NYSE:MHK) Given New 5.00 Price Target at Loop Capital

Mohawk Industries (NYSE:MHK) Given New $185.00 Price Target at Loop Capital


Mohawk Industries (NYSE:MHK – Free Report) had its target price increased by Loop Capital from $145.00 to $185.00 in a report released on Monday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other research firms also recently commented on MHK. Raymond James raised shares of Mohawk Industries from a market perform rating to a strong-buy rating and set a $140.00 price objective for the company in a report on Monday, June 10th. Truist Financial lifted their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a buy rating in a report on Monday. Robert W. Baird increased their price objective on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a neutral rating in a research note on Monday. Bank of America upgraded Mohawk Industries from an underperform rating to a buy rating and lifted their target price for the company from $120.00 to $177.00 in a research note on Friday. Finally, Royal Bank of Canada increased their price target on Mohawk Industries from $108.00 to $140.00 and gave the stock a sector perform rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $153.42.

Check Out Our Latest Report on Mohawk Industries

Mohawk Industries Price Performance

Mohawk Industries stock opened at $162.70 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $118.91 and a 200-day moving average of $116.52. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $163.59.

Mohawk Industries (NYSE:MHK – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business posted $2.76 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts expect that Mohawk Industries will post 9.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Mohawk Industries

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Mohawk Industries in the fourth quarter valued at $68,050,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock valued at $254,543,000 after purchasing an additional 317,278 shares during the last quarter. ARGA Investment Management LP boosted its position in shares of Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after purchasing an additional 168,401 shares during the period. Brandes Investment Partners LP increased its stake in Mohawk Industries by 22.4% in the 4th quarter. Brandes Investment Partners LP now owns 816,138 shares of the company’s stock worth $84,470,000 after purchasing an additional 149,370 shares in the last quarter. Finally, Townsend & Associates Inc raised its holdings in Mohawk Industries by 104.7% during the 4th quarter. Townsend & Associates Inc now owns 256,266 shares of the company’s stock worth $25,004,000 after buying an additional 131,076 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)



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