Mohawk Industries (NYSE:MHK) Price Target Cut to $155.00 by Analysts at Truist Financial

Mohawk Industries (NYSE:MHK) had its target price cut by Truist Financial from $184.00 to $155.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on MHK. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Barclays upped their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Royal Bank of Canada upped their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Trading Up 0.6 %

Shares of MHK opened at $131.71 on Monday. Mohawk Industries has a 12-month low of $76.35 and a 12-month high of $164.29. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -20.14, a P/E/G ratio of 1.11 and a beta of 1.37. The stock’s 50-day moving average price is $154.19 and its 200 day moving average price is $133.92.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,660 shares of company stock valued at $550,488 in the last three months. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quest Partners LLC lifted its holdings in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Headlands Technologies LLC acquired a new position in Mohawk Industries during the 2nd quarter worth $50,000. Blue Trust Inc. lifted its holdings 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 buying an additional 167 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Mohawk Industries by 27.2% in 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. Finally, AM Squared Ltd acquired a new position in shares of Mohawk Industries in the 2nd quarter valued at $68,000. 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.