Mohawk Industries (NYSE:MHK) Price Target Cut to $140.00 by Analysts at Evercore ISI

Mohawk Industries (NYSE:MHK) had its price objective decreased by Evercore ISI from $150.00 to $140.00 in a report published on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

MHK has been the subject of a number of other research reports. Truist Financial lowered their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird lowered their price objective on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Loop Capital decreased their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $147.29.

Mohawk Industries Trading Down 2.2 %

Shares of Mohawk Industries stock opened at $117.73 on Monday. Mohawk Industries has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The stock has a 50 day moving average of $123.93 and a 200 day moving average of $140.53. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, research analysts predict that Mohawk Industries will post 10.71 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

Several institutional investors and hedge funds have recently bought and sold shares of MHK. JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares during the period. FMR LLC lifted its position in Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. State Street Corp boosted its position in shares of Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after acquiring an additional 23,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Mohawk Industries by 33.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after purchasing an additional 254,779 shares during the last quarter. Finally, Truist Financial Corp grew its position in Mohawk Industries by 7.4% in the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after acquiring an additional 25,864 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

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.