Mohawk Industries Major Shareholder Sells $2,573,200 in Stock (MHK)
Mohawk Industries (NYSE:MHK) major shareholder Mark Lorberbaum unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $128.66, for a total value of $2,573,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Barclays Capital cut their price target on shares of Mohawk Industries (NYSE:MHK) from $155.00 to $151.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Raymond James upgraded shares of Mohawk Industries (NYSE:MHK) from an “outperform” rating to a “strong-buy” rating in a research note to investors on Thursday, August 29th. They now have a $150.00 price target on the stock, up previously from $145.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Mohawk Industries (NYSE:MHK) from $126.00 to $133.00 in a research note to investors on Tuesday, August 6th. They now have a “neutral” rating on the stock.
Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Mohawk Industries has a consensus rating of “Buy” and a consensus price target of $140.00.
Shares of Mohawk Industries (NYSE:MHK) traded down 0.56% during mid-day trading on Thursday, hitting $126.87. The stock had a trading volume of 727,182 shares. Mohawk Industries has a 52 week low of $76.55 and a 52 week high of $134.21. The stock has a 50-day moving average of $122.6 and a 200-day moving average of $115.0. The company has a market cap of $9.200 billion and a price-to-earnings ratio of 33.06.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, August 1st. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.66 by $0.18. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 34.5% on a year-over-year basis. Analysts expect that Mohawk Industries will post $6.22 EPS for the current fiscal year.
Mohawk Industries, Inc (NYSE:MHK) is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe.
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