Mohawk Industries (NYSE:MHK) Given New $110.00 Price Target at Loop Capital

Mohawk Industries (NYSE:MHKGet Rating) had its target price raised by Loop Capital from $95.00 to $110.00 in a research note released on Monday morning, The Fly reports. They currently have a hold rating on the stock.

MHK has been the topic of several other research reports. Credit Suisse Group reduced their price target on shares of Mohawk Industries to $109.00 in a research report on Thursday, October 20th. Bank of America downgraded shares of Mohawk Industries from a neutral rating to an underperform rating and reduced their price target for the stock from $140.00 to $100.00 in a research report on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mohawk Industries from $104.00 to $121.00 and gave the stock a hold rating in a research report on Tuesday, January 10th. StockNews.com started coverage on Mohawk Industries in a report on Wednesday, October 12th. They set a hold rating for the company. Finally, Barclays dropped their price objective on Mohawk Industries from $90.00 to $83.00 in a report on Wednesday, December 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Mohawk Industries has an average rating of Hold and an average target price of $130.93.

Mohawk Industries Trading Up 1.2 %

Shares of Mohawk Industries stock opened at $116.01 on Monday. The firm has a market capitalization of $7.37 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.50 and a quick ratio of 0.76. The company’s fifty day moving average price is $104.23 and its two-hundred day moving average price is $107.27. Mohawk Industries has a 52-week low of $87.01 and a 52-week high of $160.97.

Mohawk Industries (NYSE:MHKGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $3.34 EPS for the quarter, meeting the consensus estimate of $3.34. Mohawk Industries had a net margin of 1.53% and a return on equity of 11.32%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company earned $3.95 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Mohawk Industries will post 12.93 EPS for the current year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,000 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $103.20, for a total transaction of $1,032,000.00. Following the completion of the transaction, the insider now directly owns 15,953 shares of the company’s stock, valued at $1,646,349.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of MHK. Shapiro Capital Management LLC acquired a new position in shares of Mohawk Industries in the first quarter valued at $96,936,000. Ariel Investments LLC increased its position in Mohawk Industries by 26.8% during the 1st quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock worth $214,040,000 after buying an additional 364,085 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Mohawk Industries by 23.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,747,733 shares of the company’s stock valued at $216,876,000 after buying an additional 328,741 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Mohawk Industries by 18.0% in the second quarter. Pzena Investment Management LLC now owns 2,068,700 shares of the company’s stock worth $256,705,000 after purchasing an additional 316,197 shares during the period. Finally, Invesco Ltd. raised its position in shares of Mohawk Industries by 26.6% in the 1st quarter. Invesco Ltd. now owns 1,039,949 shares of the company’s stock valued at $129,161,000 after buying an additional 218,505 shares in the last quarter. Institutional investors own 75.85% of the company’s stock.

About Mohawk Industries

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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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