Mohawk Industries (NYSE:MHK) Price Target Lowered to $152.00 at Robert W. Baird

Mohawk Industries (NYSE:MHK) had its price target lowered by Robert W. Baird from $160.00 to $152.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 26.18% from the stock’s current price.

A number of other research analysts have also recently commented on MHK. Royal Bank of Canada reduced 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 research report on Monday, October 28th. Wells Fargo & Company reduced their target price 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. The Goldman Sachs Group lowered their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.15.

Mohawk Industries Stock Performance

NYSE MHK opened at $120.46 on Monday. Mohawk Industries has a 52-week low of $101.83 and a 52-week high of $164.29. The company has a fifty day moving average of $124.30 and a 200-day moving average of $140.65. The company has a market capitalization of $7.60 billion, a P/E ratio of 14.82, a P/E/G 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 issued its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, equities research analysts predict that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the transaction, the insider now owns 2,453 shares in the company, valued at $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter valued at about $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the third quarter worth about $55,000. Blue Trust Inc. boosted its position in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $61,000. Finally, Versant Capital Management Inc raised its position in shares of Mohawk Industries by 71.0% in 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 in 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.