Raymond James Believes Mohawk (NYSE: MHK) Won’t Stop Here

In a report released today, Sam Darkatsh from Raymond James maintained a Buy rating on Mohawk (MHKResearch Report), with a price target of $240.00. The company’s shares closed last Friday at $205.50, close to its 52-week high of $214.49.

According to TipRanks.com, Darkatsh is a 4-star analyst with an average return of 6.1% and a 54.3% success rate. Darkatsh covers the Industrial Goods sector, focusing on stocks such as Beacon Roofing Supply, Genuine Parts Company, and Wesco International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mohawk with a $201.50 average price target, implying a -3.3% downside from current levels. In a report issued on April 21, Barclays also maintained a Buy rating on the stock with a $222.00 price target.

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The company has a one-year high of $214.49 and a one-year low of $67.79. Currently, Mohawk has an average volume of 546.1K.

Based on the recent corporate insider activity of 29 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. Most recently, in March 2021, Bernard Thiers, the President-Flooring ROW of MHK bought 10,148 shares for a total of $671,189.

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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.