BidaskClub upgraded shares of Mohawk Industries, Inc. (NYSE:MHK) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.
Other research analysts also recently issued research reports about the company. Royal Bank Of Canada reissued a buy rating and issued a $267.00 price target on shares of Mohawk Industries in a report on Monday, May 1st. Stifel Nicolaus increased their price target on Mohawk Industries from $250.00 to $260.00 and gave the company a buy rating in a report on Monday, May 1st. MKM Partners reissued a buy rating and issued a $255.00 price target on shares of Mohawk Industries in a report on Tuesday, April 18th. Instinet reissued a buy rating and issued a $280.00 price target on shares of Mohawk Industries in a report on Friday, April 14th. Finally, Nomura started coverage on Mohawk Industries in a report on Wednesday, April 12th. They issued a buy rating and a $280.00 price target for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $256.50.
Mohawk Industries (MHK) opened at 243.88 on Wednesday. The company’s 50-day moving average price is $236.01 and its 200-day moving average price is $222.75. Mohawk Industries has a one year low of $175.52 and a one year high of $245.90. The stock’s market capitalization is $18.13 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 27th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.01. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. Mohawk Industries had a return on equity of 16.88% and a net margin of 10.65%. Mohawk Industries’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.38 earnings per share. Equities research analysts predict that Mohawk Industries will post $13.34 EPS for the current year.
In other Mohawk Industries news, VP Rodney David Patton sold 387 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $242.00, for a total transaction of $93,654.00. Following the transaction, the vice president now owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,587 shares of company stock worth $1,823,768. 17.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. BlackRock Inc. increased its position in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares in the last quarter. Norges Bank bought a new stake in shares of Mohawk Industries during the fourth quarter worth $120,281,000. Glenview Capital Management LLC bought a new stake in shares of Mohawk Industries during the first quarter worth $82,361,000. Morgan Stanley boosted its stake in shares of Mohawk Industries by 159.5% in the first quarter. Morgan Stanley now owns 353,581 shares of the company’s stock worth $81,141,000 after buying an additional 217,330 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares during the last quarter. 77.54% of the stock is currently owned by institutional investors.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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