Shares of Mohawk Industries, Inc. (NYSE:MHK) have received an average rating of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $266.50.

Several research analysts recently issued reports on the stock. Cleveland Research downgraded shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research report on Friday. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Zacks Investment Research downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. MKM Partners reiterated a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $291.00 price target on shares of Mohawk Industries in a research report on Monday, July 31st.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Mohawk Industries by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock valued at $1,494,654,000 after acquiring an additional 196,996 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after acquiring an additional 412,942 shares during the last quarter. BlackRock Inc. increased its stake in shares of Mohawk Industries by 5.8% in the 2nd quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after acquiring an additional 250,944 shares during the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 3.9% in the 2nd quarter. FMR LLC now owns 2,796,757 shares of the company’s stock valued at $675,948,000 after acquiring an additional 105,920 shares during the last quarter. Finally, Egerton Capital UK LLP increased its stake in shares of Mohawk Industries by 3.1% in the 1st quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock valued at $328,795,000 after acquiring an additional 42,925 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

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Mohawk Industries (NYSE MHK) traded down 3.32% during trading on Wednesday, reaching $245.67. 1,163,236 shares of the company’s stock traded hands. The firm’s 50 day moving average is $251.35 and its 200-day moving average is $240.22. The company’s market capitalization is $18.26 billion. Mohawk Industries has a 12 month low of $175.52 and a 12 month high of $259.91.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 EPS. Analysts expect that Mohawk Industries will post $13.51 EPS for the current fiscal year.

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.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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