Mohawk Industries (NYSE:MHK) Stock Price Target Raised at Robert W. Baird

Mohawk Industries (NYSE:MHK) had its target price increased by stock analysts at Robert W. Baird from $132.00 to $142.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird‘s price objective suggests a potential upside of 1.74% from the company’s current price.

Other analysts also recently issued reports about the stock. Melius Research started coverage on shares of Mohawk Industries in a report on Tuesday, October 6th. They issued a “buy” rating and a $188.00 price objective on the stock. Evercore upgraded shares of Mohawk Industries from an “in-line” rating to an “outperform” rating and set a $171.00 target price for the company in a report on Monday. Barclays raised their target price on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $121.00 price target on shares of Mohawk Industries in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.08.

Mohawk Industries Trading Up 0.1%

NYSE MHK opened at $139.57 on Monday. The stock has a 50-day simple moving average of $125.73 and a 200 day simple moving average of $116.57. The company has a market capitalization of $9.45 billion, a PE ratio of 16.38, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a current ratio of 1.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Mohawk Industries has a 12 month low of $92.99 and a 12 month high of $141.17.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business earned $2.67 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Mohawk Industries will post 9.80 EPS for the current year.

Insider Activity

In other Mohawk Industries news, Director Bernard Thiers sold 13,393 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total transaction of $1,807,787.14. Following the sale, the director directly owned 93,633 shares of the company’s stock, valued at $12,638,582.34. The trade was a 12.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 1,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $139.48, for a total value of $139,480.00. Following the completion of the sale, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $855,291.36. The trade was a 14.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 106,693 shares of company stock worth $13,709,238. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Mohawk Industries during the second quarter valued at approximately $777,293,000. Dimensional Fund Advisors LP boosted its holdings in shares of Mohawk Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock worth $316,962,000 after buying an additional 80,761 shares during the last quarter. Pzena Investment Management LLC bought a new position in shares of Mohawk Industries during the 2nd quarter valued at approximately $138,661,000. Canada Pension Plan Investment Board purchased a new stake in Mohawk Industries in the second quarter worth $80,880,000. Finally, Bank of America Corp DE raised its stake in Mohawk Industries by 68.0% in the 1st quarter. Bank of America Corp DE now owns 444,345 shares of the company’s stock valued at $43,750,000 after acquiring an additional 179,925 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.

Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.

The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.