Mohawk Industries (NYSE:MHK) Given New $148.00 Price Target at Truist Financial

Mohawk Industries (NYSE:MHK - Get Free Report) had its price target lowered by equities research analysts at Truist Financial from $155.00 to $148.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 24.05% from the stock's previous close.

MHK has been the topic of a number of other research reports. Robert W. Baird lowered their target price on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday. Royal Bank of Canada lowered their price target on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research note on Monday, October 28th. Bank of America cut their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. Loop Capital decreased their target price on shares of Mohawk Industries from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their price target for the company from $151.00 to $161.00 in a report on Friday, January 10th. Six 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 stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average target price of $146.92.

Mohawk Industries Stock Up 2.2 %

Shares of MHK traded up $2.56 during trading hours on Monday, reaching $119.31. The company's stock had a trading volume of 346,615 shares, compared to its average volume of 822,052. The company has a 50 day moving average of $123.32 and a two-hundred day moving average of $140.07. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.60 and a beta of 1.41. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) 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%. As a group, research analysts predict that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company's stock.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC bought a new stake in shares of Mohawk Industries in the fourth quarter valued at about $2,106,000. Treasurer of the State of North Carolina raised its holdings in Mohawk Industries by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock valued at $2,748,000 after acquiring an additional 150 shares in the last quarter. Bessemer Group Inc. raised its holdings in Mohawk Industries by 16.9% in the 4th quarter. Bessemer Group Inc. now owns 19,312 shares of the company's stock valued at $2,300,000 after acquiring an additional 2,792 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $1,191,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $4,891,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.