Mohawk Industries (NYSE:MHK) Given New $125.00 Price Target at Barclays

Mohawk Industries (NYSE:MHK) had its target price trimmed by Barclays from $130.00 to $125.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also weighed in on MHK. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $151.00 to $161.00 in a research note on Friday, January 10th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Royal Bank of Canada cut their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group decreased their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial cut their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Stock Down 2.2 %

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

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, sell-side analysts anticipate that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the sale, the insider now owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 19,078 shares of company stock valued at $2,474,347. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cibc World Markets Corp increased its holdings in Mohawk Industries by 45.2% in the 4th quarter. Cibc World Markets Corp now owns 5,908 shares of the company’s stock worth $704,000 after purchasing an additional 1,839 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Mohawk Industries in the fourth quarter valued at approximately $482,000. PFG Advisors bought a new position in Mohawk Industries in the 4th quarter valued at approximately $238,000. Daiwa Securities Group Inc. boosted its position in Mohawk Industries by 16.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,814 shares of the company’s stock worth $335,000 after buying an additional 397 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mohawk Industries by 10.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,652 shares of the company’s stock worth $1,626,000 after acquiring an additional 1,345 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

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.