Mohawk Industries, Inc. (MHK) Upgraded at BidaskClub
BidaskClub upgraded shares of Mohawk Industries, Inc. (NYSE:MHK) from a buy rating to a strong-buy rating in a research report released on Wednesday.
Several other analysts also recently issued reports on MHK. Zacks Investment Research raised Mohawk Industries from a sell rating to a hold rating in a report on Tuesday, February 14th. Barclays PLC set a $251.00 price target on Mohawk Industries and gave the stock a buy rating in a report on Tuesday, February 14th. Nomura started coverage on Mohawk Industries in a report on Wednesday, April 12th. They issued a buy rating and a $280.00 price target on the stock. 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, 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. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of Buy and a consensus target price of $256.50.
Shares of Mohawk Industries (MHK) opened at 243.50 on Wednesday. The firm has a 50-day moving average price of $235.75 and a 200-day moving average price of $222.02. The stock’s market cap is $18.10 billion. Mohawk Industries has a 52 week low of $175.52 and a 52 week high of $245.90.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.01. The business had revenue of $2.22 billion for 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%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. On average, analysts forecast that Mohawk Industries will post $13.34 earnings per share for the current fiscal year.
In other news, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction on Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction on Monday, June 12th. The shares were sold at an average price of $238.27, for a total value of $238,270.00. Following the transaction, the director now owns 13,016 shares in the company, valued at $3,101,322.32. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Washington Trust Bank boosted its position in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock valued at $110,000 after buying an additional 215 shares during the period. IFP Advisors Inc boosted its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the period. Westport Asset Management Inc. purchased a new position in shares of Mohawk Industries during the fourth quarter valued at about $160,000. Meeder Asset Management Inc. purchased a new position in shares of Mohawk Industries during the first quarter valued at about $179,000. Finally, Bahl & Gaynor Inc. purchased a new position in shares of Mohawk Industries during the first quarter valued at about $202,000. Institutional investors own 77.54% of the company’s stock.
About Mohawk Industries
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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