Mohawk Industries, Inc. (NYSE:MHK – Get Rating)’s share price gapped down before the market opened on Wednesday after Truist Financial lowered their price target on the stock from $200.00 to $175.00. The stock had previously closed at $138.83, but opened at $133.21. Mohawk Industries shares last traded at $131.16, with a volume of 3,685 shares.
Other equities research analysts have also issued research reports about the stock. UBS Group decreased their price target on shares of Mohawk Industries from $180.00 to $162.00 in a research note on Monday, February 14th. Barclays decreased their price target on shares of Mohawk Industries from $202.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, February 14th. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $200.00 to $188.00 in a research note on Monday, February 14th. Finally, JPMorgan Chase & Co. lowered shares of Mohawk Industries from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $206.00 to $140.00 in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $184.55.
In other Mohawk Industries news, VP Rodney David Patton sold 506 shares of the business’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $144.76, for a total value of $73,248.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Chistopher Wellborn acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 24th. The stock was purchased at an average price of $135.76 per share, for a total transaction of $1,357,600.00. The disclosure for this purchase can be found here. Insiders own 18.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new position in shares of Mohawk Industries during the third quarter valued at about $25,000. Covestor Ltd purchased a new stake in Mohawk Industries in the fourth quarter worth about $25,000. KB Financial Partners LLC purchased a new stake in Mohawk Industries in the fourth quarter worth about $32,000. CWM LLC purchased a new stake in Mohawk Industries in the fourth quarter worth about $35,000. Finally, Van ECK Associates Corp grew its holdings in Mohawk Industries by 96.2% in the third quarter. Van ECK Associates Corp now owns 204 shares of the company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 75.00% of the company’s stock.
The firm has a market cap of $8.74 billion, a PE ratio of 9.31, a PEG ratio of 6.13 and a beta of 1.54. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $144.49 and its two-hundred day simple moving average is $166.87.
Mohawk Industries (NYSE:MHK – Get Rating) last issued its earnings results on Thursday, February 10th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. Mohawk Industries had a net margin of 9.22% and a return on equity of 11.93%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.54 earnings per share. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 14.33 earnings per share for the current fiscal year.
About Mohawk Industries (NYSE:MHK)
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces 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).