Fintel reports that on July 31, 2023, Loop Capital maintained coverage of Mohawk Industries (NYSE:MHK) with a Buy recommendation.
Analyst Price Forecast Suggests 11.76% Upside
As of July 6, 2023, the average one-year price target for Mohawk Industries is 119.65. The forecasts range from a low of 95.95 to a high of $147.00. The average price target represents an increase of 11.76% from its latest reported closing price of 107.06.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Mohawk Industries is 11,339MM, an increase of 0.12%. The projected annual non-GAAP EPS is 10.44.
What is the Fund Sentiment?
There are 994 funds or institutions reporting positions in Mohawk Industries. This is a decrease of 6 owner(s) or 0.60% in the last quarter. Average portfolio weight of all funds dedicated to MHK is 0.18%, an increase of 14.82%. Total shares owned by institutions decreased in the last three months by 3.57% to 55,563K shares. 
The put/call ratio of MHK is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Boston Partners holds 2,610K shares representing 4.10% ownership of the company. In it's prior filing, the firm reported owning 3,390K shares, representing a decrease of 29.86%. The firm decreased its portfolio allocation in MHK by 23.72% over the last quarter.
Jpmorgan Chase holds 2,196K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 2,243K shares, representing a decrease of 2.11%. The firm decreased its portfolio allocation in MHK by 11.27% over the last quarter.
Pzena Investment Management holds 2,028K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 2,021K shares, representing an increase of 0.33%. The firm decreased its portfolio allocation in MHK by 4.07% over the last quarter.
Ariel Investments holds 1,969K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,963K shares, representing an increase of 0.30%. The firm decreased its portfolio allocation in MHK by 8.79% over the last quarter.
Invesco holds 1,734K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 1,812K shares, representing a decrease of 4.49%. The firm decreased its portfolio allocation in MHK by 91.73% over the last quarter.
Mohawk Industries Background Information
(This description is provided by the company.)
Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Our industry-leading innovation has yielded products and technologies that differentiate our brands in the marketplace and satisfy all remodeling and new construction requirements. Our brands are among the most recognized in the industry and include American Olean, Daltile, Durkan, Karastan, IVC, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world's largest flooring company with operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.
Additional reading:
- Mine Safety Disclosure pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act
- MOHAWK INDUSTRIES REPORTS Q2 RESULTS
- MOHAWK ANNOUNCES PLANNED TRANSITION OF FLOORING REST OF THE WORLD SEGMENT LEADERSHIP
- Mine Safety Disclosure pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act
- Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939, as amended, of U.S. Bank Trust Company, National Association, as Trustee for Mohawk Industries Inc.’s Debt Securities
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
