BidaskClub lowered shares of Mohawk Industries, Inc. (NYSE:MHK) from a strong-buy rating to a buy rating in a research note published on Friday, June 30th.
Several other research analysts also recently commented on MHK. Credit Suisse Group initiated coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an outperform rating and a $274.00 price target on the stock. Royal Bank Of Canada reiterated a buy rating and set a $267.00 target price on shares of Mohawk Industries in a report on Monday, May 1st. Stifel Nicolaus raised their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a buy rating in a report on Monday, May 1st. MKM Partners reiterated a buy rating and issued a $255.00 target price on shares of Mohawk Industries in a research note on Tuesday, April 18th. Finally, Barclays PLC lifted their target price on shares of Mohawk Industries from $251.00 to $272.00 and gave the stock an overweight rating in a research note on Monday, March 20th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $260.67.
Mohawk Industries (MHK) traded up 4.33% during trading on Friday, reaching $248.65. The company had a trading volume of 1,202,612 shares. The company’s market capitalization is $18.48 billion. The company has a 50-day moving average price of $243.90 and a 200 day moving average price of $231.09. Mohawk Industries has a one year low of $175.52 and a one year high of $251.69.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.89%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the firm posted $3.47 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Mohawk Industries will post $13.37 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Mohawk Industries, Inc. (MHK) Downgraded to Buy at BidaskClub” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.chaffeybreeze.com/2017/07/30/bidaskclub-lowers-mohawk-industries-inc-mhk-to-buy-updated-updated-updated.html.
In other news, VP Rodney David Patton sold 387 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the sale, the vice president now directly owns 7,061 shares of the company’s stock, valued at $1,708,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 6,200 shares of the company’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 value of $1,491,844.00. The disclosure for this sale can be found here. Insiders have sold 7,587 shares of company stock worth $1,823,768 over the last 90 days. Insiders own 17.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MHK. Wilbanks Smith & Thomas Asset Management LLC boosted its position 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 worth $349,000 after buying an additional 11 shares in the last quarter. BTC Capital Management Inc. raised its stake in Mohawk Industries by 1.1% in the first quarter. BTC Capital Management Inc. now owns 1,265 shares of the company’s stock worth $289,000 after buying an additional 14 shares during the last quarter. ING Groep NV raised its stake in Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock worth $1,179,000 after buying an additional 19 shares during the last quarter. IFP Advisors Inc raised its stake in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in Mohawk Industries by 2.3% in the first quarter. Cleararc Capital Inc. now owns 1,550 shares of the company’s stock worth $356,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 77.03% 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.
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.