Mohawk (MHK) Receives a Rating Update from a Top Analyst

In a report released on April 26, Matthew Bouley from Barclays maintained a Hold rating on Mohawk (MHK – Research Report), with a price target of $120.00. The company’s shares closed last Friday at $115.45.

According to TipRanks, Bouley is a top 100 analyst with an average return of 21.6% and a 65.13% success rate. Bouley covers the Industrials sector, focusing on stocks such as AZEK Company, Builders Firstsource, and Trex Company.

In addition to Barclays, Mohawk also received a Hold from UBS’s John Lovallo in a report issued yesterday. However, on April 26, Truist Financial maintained a Buy rating on Mohawk (NYSE: MHK).

Based on Mohawk’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.77 billion and a GAAP net loss of $760.46 million. In comparison, last year the company earned a revenue of $2.92 billion and had a GAAP net loss of $533.97 million

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MHK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Mohawk (MHK) Company Description:

Mohawk Industries, Inc. engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications. The Flooring NA segment includes floor covering product lines, in a broad range of colors, textures, and patterns. The Flooring ROW segment consists of laminate, hardwood flooring, and vinyl flooring products, roofing elements, insulation boards, medium-density fiberboard, and chipboards. The company was founded on December 22, 1988 and is headquartered in Calhoun, GA.