Mohawk Industries (NYSE:MHK) Given New $118.00 Price Target at Barclays

Mohawk Industries (NYSE:MHK) had its price target lowered by Barclays from $120.00 to $118.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 5.76% from the company’s current price.

A number of other equities research analysts have also recently commented on MHK. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target for the company in a report on Monday, June 10th. Loop Capital decreased their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada increased their price target on Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Truist Financial decreased their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

Mohawk Industries Price Performance

Shares of NYSE MHK traded up $3.91 during midday trading on Friday, reaching $125.21. 202,612 shares of the company were exchanged, compared to its average volume of 683,942. The stock’s 50-day moving average price is $115.30 and its 200-day moving average price is $113.76. The stock has a market cap of $8.00 billion, a P/E ratio of -19.09, a PEG ratio of 1.11 and a beta of 1.38. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. Mohawk Industries has a one year low of $76.02 and a one year high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. On average, sell-side analysts anticipate that Mohawk Industries will post 9.68 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the completion of the sale, the insider now directly owns 122,369 shares of the company’s stock, valued at $13,673,512.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MHK. Texas Permanent School Fund Corp raised its position in shares of Mohawk Industries by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock worth $1,430,000 after purchasing an additional 98 shares during the last quarter. Fifth Third Bancorp raised its holdings in Mohawk Industries by 5.5% during the fourth quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after acquiring an additional 105 shares during the period. Quent Capital LLC raised its stake in Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the period. Signaturefd LLC raised its position in shares of Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock valued at $698,000 after purchasing an additional 136 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.