Mohawk Industries (NYSE:MHK) Price Target Cut to $150.00 by Analysts at Bank of America

Mohawk Industries (NYSE:MHK - Free Report) had its target price reduced by Bank of America from $152.00 to $150.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Truist Financial dropped their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Baird R W raised shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Barclays lowered their price target on shares of Mohawk Industries from $141.00 to $130.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and a consensus target price of $146.92.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock traded up $3.03 on Monday, reaching $119.78. The stock had a trading volume of 655,491 shares, compared to its average volume of 833,465. The business's 50-day moving average price is $123.32 and its two-hundred day moving average price is $140.07. 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 has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The stock has a market cap of $7.56 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, sell-side analysts forecast that Mohawk Industries will post 10.71 EPS for the current year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $126.11, for a total value of $504,440.00. Following the sale, the insider now owns 104,084 shares of the company's stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Creative Planning lifted its position in Mohawk Industries by 7.6% during the 2nd quarter. Creative Planning now owns 2,914 shares of the company's stock worth $331,000 after buying an additional 207 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Mohawk Industries during the 2nd quarter worth about $371,000. CWM LLC lifted its position 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 buying an additional 6,781 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Mohawk Industries during the 3rd quarter valued at about $976,000. Finally, Exchange Traded Concepts LLC lifted its position in Mohawk Industries by 2,773.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company's stock valued at $245,000 after purchasing an additional 1,470 shares during the period. 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.