Mohawk Industries (NYSE:MHK) Raised to “Equal Weight” at Wells Fargo & Company

by · The Markets Daily

Wells Fargo & Company upgraded shares of Mohawk Industries (NYSE:MHK – Free Report) from an underweight rating to an equal weight rating in a research report report published on Monday, MarketBeat reports. They currently have $160.00 price objective on the stock, up from their prior price objective of $140.00.

Several other analysts also recently issued reports on the company. Robert W. Baird boosted their price target on Mohawk Industries from $132.00 to $160.00 and gave the company a neutral rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a sector perform rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a buy rating in a research report on Monday, July 29th. Truist Financial boosted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a buy rating in a report on Monday, July 29th. Finally, Bank of America raised shares of Mohawk Industries from an underperform rating to a buy rating and raised their target price for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $163.25.

View Our Latest Analysis on MHK

Mohawk Industries Trading Up 2.2 %

MHK stock opened at $159.00 on Monday. Mohawk Industries has a one year low of $76.02 and a one year high of $164.05. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of -24.31, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. The company has a fifty day moving average price of $152.64 and a two-hundred day moving average price of $131.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04.

Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.76 EPS. Equities analysts anticipate that Mohawk Industries will post 10 EPS for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares in the company, valued at $18,042,624.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,415 shares of company stock valued at $673,387. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisory Group LLC bought a new stake in shares of Mohawk Industries during the third quarter worth about $1,711,000. Wedmont Private Capital boosted its position in Mohawk Industries by 8.3% during the 3rd quarter. Wedmont Private Capital now owns 2,483 shares of the company’s stock worth $385,000 after buying an additional 190 shares during the period. CWM LLC grew its holdings in Mohawk Industries by 1,024.3% during the 3rd quarter. CWM LLC now owns 7,443 shares of the company’s stock worth $1,196,000 after acquiring an additional 6,781 shares during the last quarter. GAMMA Investing LLC increased its position in Mohawk Industries by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,488 shares of the company’s stock valued at $400,000 after acquiring an additional 292 shares during the period. Finally, Czech National Bank increased its position in Mohawk Industries by 5.7% in the 3rd quarter. Czech National Bank now owns 10,671 shares of the company’s stock valued at $1,715,000 after acquiring an additional 571 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Company Profile

(Get Free Report)

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.

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