Melius Research Begins Coverage on Mohawk Industries (NYSE:MHK)

Melius Research initiated coverage on shares of Mohawk Industries (NYSE:MHK) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $188.00 price target on the stock. Melius Research’s target price points to a potential upside of 57.52% from the stock’s previous close.

A number of other research analysts also recently issued reports on MHK. Truist Financial boosted their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Robert W. Baird upped their price objective on shares of Mohawk Industries from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Evercore set a $129.00 price objective on shares of Mohawk Industries in a research report on Friday, September 25th. Finally, Wells Fargo & Company raised their target price on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $135.00.

Mohawk Industries Trading Down 5.3%

NYSE MHK opened at $119.35 on Tuesday. The business has a 50 day simple moving average of $129.37 and a 200 day simple moving average of $114.52. Mohawk Industries has a one year low of $92.99 and a one year high of $140.30. The stock has a market capitalization of $8.08 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.13.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $1.09. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Research analysts expect that Mohawk Industries will post 9.87 earnings per share for the current year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 800 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $125.62, for a total value of $100,496.00. Following the transaction, the insider directly owned 5,332 shares of the company’s stock, valued at approximately $669,805.84. This trade represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Thiers sold 13,393 shares of Mohawk Industries stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total transaction of $1,807,787.14. Following the transaction, the director owned 93,633 shares of the company’s stock, valued at $12,638,582.34. This represents a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 172,996 shares of company stock valued at $22,433,248. 17.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its stake in shares of Mohawk Industries by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock valued at $560,000 after acquiring an additional 101 shares during the last quarter. Elevation Wealth Partners LLC grew its position in Mohawk Industries by 122.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after acquiring an additional 121 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Mohawk Industries by 105.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock worth $32,000 after acquiring an additional 166 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Mohawk Industries in the 2nd quarter worth approximately $25,000. Finally, Basecamp Wealth Advisors LLC lifted its position in Mohawk Industries by 2,281.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that produces and distributes products for residential and commercial applications. Its product portfolio includes broadloom carpet, carpet tile, area rugs, ceramic and porcelain tile, natural stone, hardwood, laminate, luxury vinyl tile and other resilient flooring products.

The company markets its products through a portfolio of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and IVC.