Mohawk Industries (NYSE:MHK) Given New $100.00 Price Target at Wells Fargo & Company

Mohawk Industries (NYSE:MHKFree Report) had its price objective lowered by Wells Fargo & Company from $105.00 to $100.00 in a research note released on Monday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research firms also recently weighed in on MHK. Truist Financial decreased their target price on shares of Mohawk Industries from $130.00 to $105.00 and set a buy rating for the company in a research report on Tuesday, October 17th. Jefferies Financial Group lowered their price target on Mohawk Industries from $118.00 to $93.00 in a report on Thursday, October 12th. Royal Bank of Canada upgraded shares of Mohawk Industries from an underperform rating to a sector perform rating and increased their target price for the stock from $80.00 to $101.00 in a report on Friday, January 12th. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Wednesday, January 3rd. Finally, The Goldman Sachs Group lifted their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $106.67.

Read Our Latest Stock Analysis on Mohawk Industries

Mohawk Industries Stock Performance

Shares of MHK opened at $99.59 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.73 and a debt-to-equity ratio of 0.23. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -11.61 and a beta of 1.32. The company’s fifty day moving average is $97.35 and its 200-day moving average is $95.00. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $130.63.

Mohawk Industries (NYSE:MHKGet Free Report) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.07. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.74 billion. Mohawk Industries had a positive return on equity of 6.91% and a negative net margin of 4.88%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 EPS. Equities analysts expect that Mohawk Industries will post 9.08 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $86.34, for a total transaction of $2,158,500.00. Following the completion of the sale, the chief executive officer now owns 14,200 shares in the company, valued at approximately $1,226,028. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of Mohawk Industries stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $86.34, for a total value of $2,158,500.00. Following the sale, the chief executive officer now directly owns 14,200 shares in the company, valued at approximately $1,226,028. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 5,500 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $94.09, for a total transaction of $517,495.00. Following the completion of the transaction, the insider now owns 8,953 shares of the company’s stock, valued at approximately $842,387.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,779 shares of company stock worth $2,699,406. 17.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds have recently bought and sold shares of the company. Olstein Capital Management L.P. increased its position in shares of Mohawk Industries by 2.8% during the 4th quarter. Olstein Capital Management L.P. now owns 109,000 shares of the company’s stock worth $11,282,000 after purchasing an additional 3,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Mohawk Industries by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,543 shares of the company’s stock worth $2,540,000 after acquiring an additional 552 shares in the last quarter. Allworth Financial LP increased its holdings in Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Arizona State Retirement System raised its position in Mohawk Industries by 2.5% in the 4th quarter. Arizona State Retirement System now owns 15,132 shares of the company’s stock valued at $1,566,000 after purchasing an additional 364 shares during the last quarter. Finally, KG&L Capital Management LLC acquired a new position in Mohawk Industries in the fourth quarter worth $446,000. 77.04% of the stock is currently owned by institutional investors.

Mohawk Industries Company Profile

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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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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