Investment Analysts’ Weekly Ratings Changes for Mohawk Industries (MHK)

Several analysts have recently updated their ratings and price targets for Mohawk Industries (NYSE: MHK):

• 10/21/2024 – Mohawk Industries was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating.
• 10/21/2024 – Mohawk Industries was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “overweight” rating. They now have a $196.00 price target on the stock, up previously from $160.00.
• 10/9/2024 – Mohawk Industries had its price target raised by analysts at Jefferies Financial Group Inc. from $150.00 to $160.00. They now have a “hold” rating on the stock.
• 10/7/2024 – Mohawk Industries was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating. They now have a $160.00 price target on the stock, up previously from $140.00.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $151.70 on Thursday. The stock’s 50 day moving average price is $154.76 and its two-hundred day moving average price is $133.48. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -23.20, a PEG ratio of 1.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm earned $2.76 earnings per share. Mohawk Industries’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts predict that Mohawk Industries, Inc. will post 10 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. This trade represents a 0.00 % 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, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock valued at $673,387 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Mohawk Industries in the first quarter worth approximately $1,450,000. O Shaughnessy Asset Management LLC bought a new stake in Mohawk Industries during the first quarter worth $1,450,000. Sei Investments Co. raised its position in Mohawk Industries by 2,040.6% in the 1st quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after buying an additional 59,790 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Mohawk Industries by 20.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock valued at $8,043,000 after acquiring an additional 10,274 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Mohawk Industries by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after acquiring an additional 17,541 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

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.