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

Mohawk Industries (NYSE:MHK) had its price target lowered by Truist Financial from $155.00 to $148.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $161.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $116.77 on Monday. Mohawk Industries has a one year low of $104.88 and a one year high of $164.29. The company’s 50-day moving average is $123.32 and its 200 day moving average is $140.07. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 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%. Sell-side analysts expect that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Mark Sheptoff Financial Planning LLC bought a new stake in Mohawk Industries during the 3rd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries during the 3rd quarter worth approximately $55,000. Blue Trust Inc. raised its stake in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after acquiring an additional 167 shares during the period. True Wealth Design LLC bought a new stake in Mohawk Industries during the 3rd quarter worth approximately $61,000. Finally, Versant Capital Management Inc raised its stake in Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after acquiring an additional 223 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.