Mohawk Industries, Inc. (MHK) Coverage Initiated at Northcoast Research
Northcoast Research started coverage on shares of Mohawk Industries, Inc. (NYSE:MHK) in a research report report published on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $295.00 price objective on the stock.
A number of other research analysts also recently issued reports on MHK. BidaskClub raised shares of Mohawk Industries from a buy rating to a strong-buy rating in a research report on Wednesday, June 14th. Credit Suisse Group started coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They set an outperform rating and a $274.00 target price on the stock. Zacks Investment Research upgraded shares of Mohawk Industries from a hold rating to a buy rating and set a $268.00 target price on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada restated a buy rating and set a $267.00 target price on shares of Mohawk Industries in a report on Monday, July 24th. Finally, MKM Partners restated a buy rating and set a $286.00 target price (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $270.33.
Mohawk Industries (NYSE MHK) opened at 256.77 on Thursday. The company’s market capitalization is $19.09 billion. The company’s 50-day moving average is $251.74 and its 200 day moving average is $242.00. Mohawk Industries has a 52 week low of $175.52 and a 52 week high of $259.91.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 EPS. On average, analysts forecast that Mohawk Industries will post $13.50 EPS for the current fiscal year.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $33,808.86. Following the transaction, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sun Life Financial INC increased its position in shares of Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after purchasing an additional 454 shares during the last quarter. First Personal Financial Services increased its position in shares of Mohawk Industries by 6.6% during the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after purchasing an additional 35 shares during the last quarter. IFP Advisors Inc increased its position in shares of Mohawk Industries by 18.6% during the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after purchasing an additional 98 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at about $160,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries during the 1st quarter valued at about $179,000. Institutional investors and hedge funds own 76.93% 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.
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