Mohawk Industries (NYSE:MHK) has been given a $145.00 price target by Stifel Nicolaus in a research note issued to investors on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 27.11% from the stock’s previous close.
A number of other brokerages have also issued reports on MHK. Robert W. Baird set a $156.00 price target on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Co lowered shares of Mohawk Industries from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $135.00 to $115.00 in a report on Monday, July 29th. JPMorgan Chase & Co. cut their price target on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a report on Monday, July 29th. ValuEngine raised shares of Mohawk Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Buckingham Research raised shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $115.00 to $117.00 in a report on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $141.41.
Shares of MHK stock traded up $2.73 on Friday, hitting $114.07. 913,506 shares of the company’s stock traded hands, compared to its average volume of 847,707. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. Mohawk Industries has a one year low of $108.93 and a one year high of $196.30. The company’s fifty day simple moving average is $137.35 and its 200 day simple moving average is $136.39. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 2.18 and a beta of 1.38.
In related news, Chairman Jeffrey S. Lorberbaum sold 6,000 shares of Mohawk Industries stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $145.00, for a total transaction of $870,000.00. Following the completion of the transaction, the chairman now directly owns 47,603 shares of the company’s stock, valued at approximately $6,902,435. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of Mohawk Industries stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total transaction of $2,569,680.00. Following the transaction, the chairman now directly owns 47,603 shares of the company’s stock, valued at $6,795,804.28. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $4,481,028 in the last ninety days. Insiders own 18.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC purchased a new position in Mohawk Industries during the 1st quarter valued at about $25,000. HM Payson & Co. purchased a new position in Mohawk Industries in the second quarter worth about $36,000. Parallel Advisors LLC raised its holdings in Mohawk Industries by 28.0% in the first quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock worth $57,000 after buying an additional 99 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Mohawk Industries in the second quarter worth about $65,000. Finally, Zions Bancorporation N.A. purchased a new position in Mohawk Industries in the first quarter worth about $85,000. 85.58% of the stock is owned by institutional investors.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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