Wells Fargo Keeps Their Hold Rating on Mohawk (MHK)

In a report released today, Sam Reid from Wells Fargo maintained a Hold rating on Mohawk, with a price target of $115.00.

TipRanks' Prime Week Sale - 70% Off

• Unlock powerful investing tools and data-driven insights with TipRanks Premium for more confident investment decisions.
• Discover top stock picks and new investment opportunities through TipRanks' Smart Investor Newsletter.

Reid covers the Consumer Cyclical sector, focusing on stocks such as Toll Brothers, KB Home, and Lennar. According to TipRanks, Reid has an average return of 4.1% and a 54.55% success rate on recommended stocks.

In addition to Wells Fargo, Mohawk also received a Hold from Evercore ISI’s Stephen Kim in a report issued on June 12. However, on the same day, Truist Financial maintained a Buy rating on Mohawk (NYSE: MHK).

Based on Mohawk’s latest earnings release for the quarter ending April 4, the company reported a quarterly revenue of $2.73 billion and a net profit of $117.1 million. In comparison, last year the company earned a revenue of $2.53 billion and had a net profit of $72.6 million

Based on the recent corporate insider activity of 58 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. Earlier this month, Suzanne Helen, an Insider at MHK sold 21,600.00 shares for a total of $2,434,872.00.