Jefferies Financial Group Increases Mohawk Industries (NYSE:MHK) Price Target to $160.00

Mohawk Industries (NYSE:MHK) had its price target raised by investment analysts at Jefferies Financial Group from $150.00 to $160.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 0.63% from the stock’s previous close.

MHK has been the topic of several other research reports. Barclays lifted their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Loop Capital lifted their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price target on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Truist Financial boosted their price objective on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their target price for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Mohawk Industries Stock Performance

Mohawk Industries stock traded up $3.46 during mid-day trading on Wednesday, reaching $159.00. 783,985 shares of the stock traded hands, compared to its average volume of 700,955. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $164.05. The business’s 50-day moving average is $152.68 and its 200-day moving average is $131.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The stock has a market capitalization of $10.15 billion, a PE ratio of -24.31, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 EPS. As a group, sell-side analysts predict that Mohawk Industries will post 10 EPS for the current fiscal year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now owns 119,369 shares of the company’s stock, valued at $18,042,624.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,415 shares of company stock valued at $673,387. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several hedge funds have recently made changes to their positions in MHK. Quest Partners LLC increased its stake in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Quarry LP boosted its holdings in shares of Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares during the period. Headlands Technologies LLC bought a new position in shares of Mohawk Industries during the 2nd quarter valued at approximately $50,000. Quent Capital LLC raised its holdings in Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares during the period. Finally, AM Squared Ltd bought a new stake in Mohawk Industries in the second quarter worth $68,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

About Mohawk Industries

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.