Mohawk Industries (NYSE:MHK) had its target price increased by stock analysts at Loop Capital to $145.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential downside of 3.42% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Jefferies Financial Group upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $167.00 in a research note on Tuesday, April 30th. Robert W. Baird set a $156.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $180.00 in a research note on Wednesday, May 15th. Finally, ValuEngine upgraded shares of Mohawk Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 15th. Five investment 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’s stock. Mohawk Industries presently has an average rating of “Hold” and a consensus price target of $150.41.
MHK stock traded down $0.47 during mid-day trading on Friday, reaching $150.14. The company had a trading volume of 3,788 shares, compared to its average volume of 734,002. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.74 and a beta of 1.42. Mohawk Industries has a one year low of $109.35 and a one year high of $228.49.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.06. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, analysts predict that Mohawk Industries will post 10.7 EPS for the current fiscal year.
In related news, Chairman Jeffrey S. Lorberbaum sold 6,000 shares of Mohawk Industries stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $145.00, for a total transaction of $870,000.00. Following the transaction, the chairman now directly owns 47,603 shares of the company’s stock, valued at $6,902,435. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 4,200 shares of Mohawk Industries stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.04, for a total value of $621,768.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,200 shares of company stock worth $4,061,448. 18.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Lavaca Capital LLC purchased a new position in Mohawk Industries in the 1st quarter worth about $25,000. Penserra Capital Management LLC purchased a new position in Mohawk Industries in the 1st quarter worth about $25,000. Lindbrook Capital LLC purchased a new position in Mohawk Industries in the 4th quarter worth about $34,000. CSat Investment Advisory L.P. increased its stake in Mohawk Industries by 222.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new position in Mohawk Industries in the 1st quarter worth about $38,000. 80.66% of the stock is currently owned by hedge funds and other 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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