Bank of America Cuts Mohawk Industries (NYSE:MHK) Price Target to $150.00

Mohawk Industries (NYSE:MHK) had its price target trimmed by Bank of America from $152.00 to $150.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their target price 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. Truist Financial lowered their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group lowered their target price on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Loop Capital lowered their target price on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Robert W. Baird lowered their target price on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Stock Performance

Shares of NYSE:MHK opened at $116.77 on Monday. The firm has a market capitalization of $7.37 billion, a PE ratio of 14.36, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The business has a 50-day moving average of $123.32 and a two-hundred day moving average of $140.07. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, research analysts forecast that Mohawk Industries will post 10.71 earnings per share for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now owns 2,453 shares of the company’s stock, valued at $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 19,078 shares of company stock valued at $2,474,347 in the last quarter. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. lifted its holdings in Mohawk Industries by 86.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 25,458 shares of the company’s stock worth $3,033,000 after buying an additional 11,784 shares during the last quarter. Bryce Point Capital LLC bought a new position in Mohawk Industries during the 4th quarter worth approximately $503,000. Huntington National Bank lifted its holdings in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after buying an additional 119 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Mohawk Industries by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after buying an additional 354,656 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Mohawk Industries by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company’s stock worth $154,488,000 after buying an additional 22,736 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

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.