Mohawk Industries (NYSE:MHK) Price Target Lowered to $148.00 at Truist Financial

Mohawk Industries (NYSE:MHK) had its target price reduced by Truist Financial from $155.00 to $148.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. raised 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 report on Friday, January 10th. Barclays cut their target price on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Trading Down 2.1 %

Mohawk Industries stock opened at $116.77 on Monday. The stock has a market cap of $7.37 billion, a P/E ratio of 14.36, a PEG ratio of 1.60 and a beta of 1.41. 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 1 year low of $104.88 and a 1 year high of $164.29. The firm’s 50 day moving average price is $123.32 and its 200-day moving average price is $140.07.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) 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, equities analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

A number of large investors have recently made changes to their positions in MHK. FMR LLC boosted its stake in shares of Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after purchasing an additional 748,070 shares during the period. Norges Bank purchased a new stake in shares of Mohawk Industries during the fourth quarter valued at $61,171,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after purchasing an additional 354,656 shares during the period. American Century Companies Inc. boosted its stake in shares of Mohawk Industries by 48.7% during the fourth quarter. American Century Companies Inc. now owns 958,818 shares of the company’s stock valued at $114,224,000 after purchasing an additional 313,897 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after purchasing an additional 191,077 shares during the period. 78.98% of the stock is 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.