Mohawk Industries (NYSE:MHK) Given New $150.00 Price Target at Bank of America

Mohawk Industries (NYSE:MHK) had its price objective cut by Bank of America from $152.00 to $150.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $161.00 in a research note on Friday, January 10th. Truist Financial dropped their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Barclays decreased their target price on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.29.

Mohawk Industries Stock Performance

Shares of MHK 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’s 50-day moving average is $123.93 and its two-hundred day moving average is $140.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The firm has a market cap of $7.43 billion, a P/E ratio of 14.48, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its 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 net margin of 4.78% and a return on equity of 8.00%. Analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 19,078 shares of company stock valued at $2,474,347 over the last quarter. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in Mohawk Industries by 12.5% during the 3rd quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after buying an additional 76 shares during the period. Allworth Financial LP raised its position in shares of Mohawk Industries by 20.6% during the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after purchasing an additional 107 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of Mohawk Industries by 2.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock valued at $680,000 after purchasing an additional 121 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after purchasing an additional 130 shares during the period. 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.