Mohawk Industries, Inc. (NYSE:MHK) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday, July 24th.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus lifted their target price on Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a report on Monday, July 24th. Nomura assumed coverage on Mohawk Industries in a report on Wednesday, April 12th. They set a “buy” rating and a $280.00 price objective on the stock. Instinet reaffirmed a “buy” rating and set a $280.00 price objective on shares of Mohawk Industries in a report on Friday, April 14th. Finally, Credit Suisse Group assumed coverage on Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $266.64.

Shares of Mohawk Industries (MHK) traded up 0.35% on Monday, hitting $248.97. The company’s stock had a trading volume of 603,288 shares. Mohawk Industries has a 1-year low of $175.52 and a 1-year high of $252.89. The firm’s market cap is $18.51 billion. The company has a 50 day moving average of $246.74 and a 200 day moving average of $235.35.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business earned $3.47 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts forecast that Mohawk Industries will post $13.52 EPS for the current year.

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In related news, VP Rodney David Patton sold 137 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the transaction, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 7,724 shares of company stock valued at $1,857,577 in the last quarter. 17.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of MHK. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of Mohawk Industries by 0.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after buying an additional 11 shares during the last quarter. BTC Capital Management Inc. boosted its stake in shares of Mohawk Industries by 1.1% in the first quarter. BTC Capital Management Inc. now owns 1,265 shares of the company’s stock valued at $289,000 after buying an additional 14 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Mohawk Industries by 0.7% in the second quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock valued at $492,000 after buying an additional 15 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Mohawk Industries by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,693 shares of the company’s stock valued at $1,134,000 after buying an additional 16 shares during the last quarter. Finally, ING Groep NV boosted its stake in shares of Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock valued at $1,179,000 after buying an additional 19 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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