Mohawk Industries (NYSE:MHK) Shares Gap Up to $106.33

Mohawk Industries, Inc. (NYSE:MHK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $106.33, but opened at $108.53. Mohawk Industries shares last traded at $106.29, with a volume of 33,041 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research note on Monday, June 10th. Barclays lowered their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Finally, Truist Financial lifted their price objective on Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.20.

Mohawk Industries Stock Up 1.2 %

The firm’s 50-day simple moving average is $115.60 and its 200-day simple moving average is $112.99. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of -16.52, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion during 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 firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.68 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the transaction, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB bought a new position in Mohawk Industries in the 1st quarter valued at $2,340,000. Zimmer Partners LP acquired a new position in Mohawk Industries during the 1st quarter worth about $7,199,000. Tidal Investments LLC grew its holdings in Mohawk Industries by 28.1% during the 1st quarter. Tidal Investments LLC now owns 12,831 shares of the company’s stock worth $1,679,000 after acquiring an additional 2,816 shares during the last quarter. Innealta Capital LLC acquired a new stake in Mohawk Industries in the 1st quarter valued at about $238,000. Finally, Interval Partners LP bought a new position in shares of Mohawk Industries in the first quarter worth about $3,272,000. 78.98% of the stock is owned by institutional investors and hedge funds.

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.