Mohawk Industries (NYSE:MHK) received a $130.00 target price from research analysts at Loop Capital in a note issued to investors on Tuesday, TipRanks reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target would suggest a potential downside of 3.14% from the stock’s current price.
A number of other research firms have also issued reports on MHK. Jefferies Financial Group raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $145.00 to $167.00 in a report on Tuesday, April 30th. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Robert W. Baird set a $156.00 price target on Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Co raised their price target on Mohawk Industries from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Monday, February 11th. Finally, Buckingham Research initiated coverage on Mohawk Industries in a report on Friday, February 1st. They set an “underperform” rating and a $116.00 price target on the stock. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $152.76.
Shares of MHK stock opened at $134.21 on Tuesday. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 2.37 and a beta of 1.53. Mohawk Industries has a 1 year low of $109.35 and a 1 year high of $228.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 25th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.06. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company posted $3.01 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Analysts predict that Mohawk Industries will post 10.77 earnings per share for the current year.
In other Mohawk Industries news, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the sale, the vice president now owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc boosted its holdings in Mohawk Industries by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after purchasing an additional 29,538 shares in the last quarter. BlackRock Inc. boosted its holdings in Mohawk Industries by 5.6% in the 4th quarter. BlackRock Inc. now owns 4,221,721 shares of the company’s stock valued at $493,771,000 after purchasing an additional 223,512 shares in the last quarter. FMR LLC boosted its holdings in Mohawk Industries by 16.3% in the 4th quarter. FMR LLC now owns 2,867,479 shares of the company’s stock valued at $335,381,000 after purchasing an additional 402,710 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Mohawk Industries in the 1st quarter valued at approximately $172,158,000. Finally, Wells Fargo & Company MN boosted its holdings in Mohawk Industries by 2.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,301,070 shares of the company’s stock valued at $164,130,000 after purchasing an additional 36,090 shares in the last quarter. 81.58% of the stock is currently owned by institutional investors.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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