Raymond James Increases Mohawk Industries (NYSE:MHK) Price Target to $210.00

Mohawk Industries (NYSE:MHKGet Rating) had its price target upped by equities researchers at Raymond James from $190.00 to $210.00 in a research note issued on Monday, The Fly reports. Raymond James’ price target would indicate a potential upside of 48.87% from the stock’s current price.

Several other research firms have also issued reports on MHK. The Goldman Sachs Group reduced their price target on Mohawk Industries from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. StockNews.com initiated coverage on Mohawk Industries in a research report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group reduced their price target on Mohawk Industries from $180.00 to $162.00 in a research report on Monday, February 14th. Truist Financial reduced their price target on Mohawk Industries from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, March 30th. Finally, Bank of America upgraded Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $125.00 to $150.00 in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $165.07.

NYSE:MHK opened at $141.06 on Monday. The business’s 50-day moving average price is $132.23 and its two-hundred day moving average price is $157.59. Mohawk Industries has a twelve month low of $117.56 and a twelve month high of $231.80. The stock has a market cap of $8.96 billion, a P/E ratio of 9.20, a PEG ratio of 6.90 and a beta of 1.51. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHKGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.85. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Mohawk Industries had a return on equity of 11.87% and a net margin of 9.02%. Mohawk Industries’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $3.49 EPS. On average, equities research analysts expect that Mohawk Industries will post 13.63 EPS for the current fiscal year.

In other news, COO Chistopher Wellborn purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were bought at an average cost of $135.76 per share, for a total transaction of $1,357,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rodney David Patton sold 506 shares of Mohawk Industries stock in a transaction on Monday, February 14th. The shares were sold at an average price of $144.76, for a total value of $73,248.56. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in Mohawk Industries by 9.8% during the third quarter. Russell Investments Group Ltd. now owns 138,461 shares of the company’s stock valued at $24,604,000 after buying an additional 12,372 shares during the last quarter. Citigroup Inc. raised its stake in shares of Mohawk Industries by 4.4% in the third quarter. Citigroup Inc. now owns 61,945 shares of the company’s stock worth $10,989,000 after purchasing an additional 2,632 shares during the last quarter. KBC Group NV raised its stake in shares of Mohawk Industries by 90.9% in the third quarter. KBC Group NV now owns 51,571 shares of the company’s stock worth $9,149,000 after purchasing an additional 24,559 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Mohawk Industries by 4.2% in the third quarter. UBS Asset Management Americas Inc. now owns 262,809 shares of the company’s stock worth $46,622,000 after purchasing an additional 10,574 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Mohawk Industries in the fourth quarter worth $21,316,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Mohawk Industries Company Profile (Get Rating)

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).

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