Mohawk Industries (NYSE:MHK) Price Target Cut to $140.00 by Analysts at Evercore ISI

Mohawk Industries (NYSE:MHK) had its price target reduced by Evercore ISI from $150.00 to $140.00 in a research note published on Monday,Benzinga reports. They currently have an in-line rating on the stock.

A number of other research firms have also recently commented on MHK. Truist Financial lowered their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Wednesday, January 8th. Robert W. Baird decreased their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company decreased their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Mohawk Industries Price Performance

MHK stock opened at $117.73 on Monday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $123.93 and its 200 day simple moving average is $140.53. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. On average, analysts expect that Mohawk Industries will post 10.71 earnings per share for the current year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Several hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its position in shares of Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after acquiring an additional 6,863 shares during the period. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after purchasing an additional 74,123 shares during the last quarter. Natixis Advisors LLC boosted its position in Mohawk Industries by 19.8% during the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after purchasing an additional 14,480 shares in the last quarter. Cerity Partners LLC acquired a new stake in Mohawk Industries in the third quarter valued at $1,935,000. Finally, Pacer Advisors Inc. increased its position in shares of Mohawk Industries by 106.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock valued at $984,000 after buying an additional 4,264 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

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.