Mohawk Industries (NYSE:MHK) Coverage Initiated by Analysts at Melius Research

by · The Cerbat Gem

Melius Research assumed coverage on shares of Mohawk Industries (NYSE:MHK – Free Report) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $188.00 price objective on the stock.

A number of other equities analysts have also commented on the stock. Evercore set a $129.00 price target on shares of Mohawk Industries in a report on Friday, September 25th. Wells Fargo & Company lifted their price objective on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Truist Financial upped their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Zacks Research raised Mohawk Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, June 19th. Finally, Robert W. Baird raised their price target on Mohawk Industries from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.38.

Get Our Latest Report on Mohawk Industries

Mohawk Industries Stock Performance

Shares of MHK opened at $125.68 on Tuesday. Mohawk Industries has a 12-month low of $92.99 and a 12-month high of $140.30. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.51 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The stock has a 50-day moving average price of $129.24 and a 200-day moving average price of $114.37.

Mohawk Industries (NYSE:MHK – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.58 by $1.09. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. Mohawk Industries’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. As a group, equities analysts forecast that Mohawk Industries will post 9.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $131.52, for a total transaction of $920,640.00. Following the transaction, the insider owned 7,132 shares of the company’s stock, valued at approximately $938,000.64. This trade represents a 49.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the completion of the transaction, the chief executive officer owned 10,000 shares in the company, valued at approximately $1,315,700. The trade was a 84.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 172,996 shares of company stock valued at $22,433,248. 17.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Mohawk Industries during the 2nd quarter worth approximately $777,293,000. Dimensional Fund Advisors LP lifted its position in Mohawk Industries by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock valued at $316,962,000 after purchasing an additional 80,761 shares during the last quarter. Pzena Investment Management LLC bought a new stake in Mohawk Industries in the second quarter valued at approximately $138,661,000. Brandes Investment Partners LP boosted its stake in shares of Mohawk Industries by 20.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,102,574 shares of the company’s stock valued at $120,513,000 after purchasing an additional 186,649 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Mohawk Industries during the second quarter valued at approximately $80,880,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

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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.

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