Analysts Set Price Target of $137.62 for Mohawk Industries Stock

Analysts have set an average price target of $137.62 for shares of Mohawk Industries, Inc. (NYSE:MHK), as reported by Marketbeat.com. The stock has received an overall recommendation of “Moderate Buy” from fifteen ratings firms covering it. Among these analysts, six have issued a hold recommendation, eight have rated it as a buy, and one has given it a strong buy rating.

Recent Analyst Ratings and Price Targets

The consensus 12-month price objective for Mohawk Industries is approximately $137.54, reflecting a mixture of perspectives from various research firms. Recently, Wells Fargo & Company lowered its price target from $130.00 to $125.00, maintaining an “equal weight” rating in a report dated December 4, 2023. Meanwhile, Raymond James Financial reaffirmed its “strong buy” rating, increasing its price target from $140.00 to $150.00 in a report on October 21, 2023. Barclays set a target price of $121.00 in a research note published on the same day.

Lastly, Wall Street Zen upgraded Mohawk from a “hold” rating to a “buy” rating in a note released on December 2, 2023. In contrast, Weiss Ratings reissued a “hold (C-)” rating in a report on October 31, 2023.

Financial Performance and Insider Trading

Mohawk Industries released its quarterly earnings on October 23, 2023, reporting earnings per share (EPS) of $2.67. This figure fell short of analysts’ expectations of $2.68 by a narrow margin. The company achieved a net margin of 3.93% and a return on equity of 6.97%. Revenue for the quarter was $2.76 billion, exceeding the consensus estimate of $2.73 billion. Year-over-year, revenue increased by 1.4%, although EPS declined from $2.90 during the same period last year.

Looking ahead, Mohawk Industries has projected its Q4 2025 EPS guidance to range between $1.90 and $2.00. Analysts anticipate an average EPS of $9.80 for the current fiscal year.

In related news, insider Suzanne L. Helen sold 500 shares of Mohawk stock on December 3, 2023, at an average price of $115.11, amounting to a total transaction of $57,555. Following this transaction, Helen’s remaining ownership stands at 78,243 shares, valued at approximately $9,006,551.73, representing a 0.63% decrease in ownership. Over the past 90 days, insiders have sold a total of 10,171 shares, valued at $1,206,482.

Institutional Investment Trends

Significant institutional movements have been observed regarding Mohawk Industries stock. AQR Capital Management LLC increased its stake by 73.9% during the third quarter, now holding 1,578,335 shares valued at $200,922,000 after acquiring an additional 670,601 shares. Alyeska Investment Group L.P. raised its stake by an impressive 436.4% in the first quarter, with holdings now at 756,030 shares, worth $86,324,000.

Norges Bank initiated a new position valued at $48,276,000 in the second quarter. Additionally, Steadfast Capital Management LP increased its position by 96.3% in the most recent quarter, now owning 937,301 shares worth $120,837,000. Furthermore, ARGA Investment Management LP expanded its stake by an extraordinary 1,508.1%, now holding 488,741 shares valued at $63,008,000.

Currently, institutional investors and hedge funds own approximately 78.98% of Mohawk Industries stock, reflecting strong interest and confidence in the company’s future prospects.

Mohawk Industries, headquartered in the United States, designs and manufactures a variety of flooring products for both residential and commercial markets. The company operates across multiple regions, including Europe and Latin America, and is divided into three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.