Mohawk Industries Inc. (MHK) Given Consensus Rating of “Buy” by Analysts
Mohawk Industries Inc. (NYSE:MHK) has earned a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company. Five analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $224.82.
MHK has been the topic of a number of recent analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of Mohawk Industries in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Mohawk Industries in a research report on Wednesday, July 6th. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Royal Bank Of Canada upped their target price on Mohawk Industries from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Finally, MKM Partners upped their target price on Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, August 8th.
In other news, insider Suzanne L. Helen sold 4,600 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $216.00, for a total value of $993,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cock Frans Georges De sold 3,734 shares of the stock in a transaction on 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 transaction, the director now owns 6,266 shares of the company’s stock, valued at $1,315,860. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its position in shares of Mohawk Industries by 3.2% in the first quarter. Glenmede Trust Co. NA now owns 2,160 shares of the company’s stock worth $411,000 after buying an additional 66 shares during the last quarter. Virginia Retirement System purchased a new position in shares of Mohawk Industries during the first quarter worth approximately $711,000. BlackRock Japan Co. Ltd boosted its position in shares of Mohawk Industries by 0.7% in the first quarter. BlackRock Japan Co. Ltd now owns 81,056 shares of the company’s stock worth $15,474,000 after buying an additional 542 shares during the last quarter. ING Groep NV purchased a new position in shares of Mohawk Industries during the first quarter worth approximately $286,000. Finally, Aviva PLC boosted its position in shares of Mohawk Industries by 6.3% in the first quarter. Aviva PLC now owns 31,785 shares of the company’s stock worth $6,068,000 after buying an additional 1,890 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.
Mohawk Industries (NYSE:MHK) opened at 196.46 on Wednesday. The company’s market cap is $14.57 billion. Mohawk Industries has a 12 month low of $148.56 and a 12 month high of $216.58. The firm has a 50-day moving average price of $204.40 and a 200 day moving average price of $199.69.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.36 by $0.11. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.69 earnings per share. On average, equities analysts expect that Mohawk Industries will post $12.46 earnings per share for the current year.
About Mohawk Industries
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.
Receive News & Stock Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related stocks with our FREE daily email newsletter.