Mohawk Industries Downgraded to “Neutral” at Zacks (MHK)
Mohawk Industries (NYSE:MHK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday, Stock Ratings Network.com reports. They currently have a $152.70 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 2.55% from the stock’s previous close.
A number of other analysts have also recently weighed in on MHK. Analysts at Stifel Nicolaus raised their price target on shares of Mohawk Industries from $155.00 to $160.00 in a research note to investors on Thursday, December 12th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Mohawk Industries in a research note to investors on Monday, December 9th. They set a “buy” rating and a $173.00 price target on the stock. Finally, analysts at Credit Suisse upgraded shares of Mohawk Industries from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $151.30.
Mohawk Industries (NYSE:MHK) traded down 0.38% on Thursday, hitting $148.335. 474,997 shares of the company’s stock traded hands. Mohawk Industries has a 52 week low of $91.30 and a 52 week high of $149.01. The stock’s 50-day moving average is $141.7 and its 200-day moving average is $127.9. The company has a market cap of $10.773 billion and a price-to-earnings ratio of 33.17.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.12. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 33.1% on a year-over-year basis.
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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