Mohawk Industries Inc. (MHK) Receives New Coverage from Analysts at Wells Fargo & Co.
Several other equities analysts have also issued reports on MHK. Royal Bank Of Canada boosted their price objective on Mohawk Industries from $220.00 to $245.00 and gave the company an outperform rating in a research report on Monday, August 8th. Zacks Investment Research raised Mohawk Industries from a sell rating to a hold rating and set a $238.00 price target for the company in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed an outperform rating and set a $245.00 price target (up previously from $220.00) on shares of Mohawk Industries in a research report on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a buy rating on shares of Mohawk Industries in a research report on Tuesday, June 28th. Finally, Macquarie reaffirmed an outperform rating and set a $228.00 price target on shares of Mohawk Industries in a research report on Thursday, September 22nd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $225.31.
Mohawk Industries (NYSE:MHK) opened at 201.52 on Wednesday. Mohawk Industries has a 1-year low of $148.56 and a 1-year high of $216.58. The company’s market capitalization is $14.94 billion. The firm’s 50-day moving average is $209.01 and its 200-day moving average is $198.92.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.11. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The business earned $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the firm earned $2.69 EPS. Mohawk Industries’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts predict that Mohawk Industries will post $12.46 EPS for the current year.
In related news, insider Suzanne L. Helen sold 9,300 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $214.00, for a total value of $1,990,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cock Frans Georges De sold 3,734 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $210.00, for a total value of $784,140.00. Following the completion of the sale, the director now directly owns 6,266 shares in the company, valued at $1,315,860. The disclosure for this sale can be found here. 17.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in shares of Mohawk Industries by 612.2% in the second quarter. Tower Research Capital LLC TRC now owns 641 shares of the company’s stock worth $122,000 after buying an additional 551 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock worth $160,000 after buying an additional 18 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Mohawk Industries during the second quarter worth approximately $166,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Mohawk Industries by 96.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 874 shares of the company’s stock worth $166,000 after buying an additional 428 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock worth $196,000 after buying an additional 19 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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