Mohawk Industries, Inc. (MHK) Given Consensus Recommendation of “Buy” by Analysts
Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $274.10.
MHK has been the topic of several research reports. Nomura restated a “buy” rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. BidaskClub downgraded shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 4th. Finally, MKM Partners restated a “buy” rating and set a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd.
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In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction dated Tuesday, September 5th. The shares were 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 owns 21,396 shares in the company, valued at $5,454,910.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 137 shares of the 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 completion of the sale, the vice president now owns 6,924 shares of the company’s stock, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Sun Life Financial INC raised its holdings in shares of Mohawk Industries by 5,675.0% in the second 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 raised its holdings in shares of Mohawk Industries by 6.6% in the second 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 raised its holdings in shares of Mohawk Industries by 18.6% in the second 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 in the second quarter valued at about $160,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries in the first quarter valued at about $179,000. Institutional investors own 76.93% of the company’s stock.
Mohawk Industries (NYSE MHK) opened at 254.99 on Friday. Mohawk Industries has a 52-week low of $175.52 and a 52-week high of $259.91. The company has a 50-day moving average of $253.13 and a 200-day moving average of $243.11. The company’s market cap is $18.96 billion.
Mohawk Industries (NYSE:MHK) last released its earnings results 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. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company earned $3.47 EPS. Mohawk Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Mohawk Industries will post $13.50 earnings per share for the current fiscal year.
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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