Mohawk Industries Downgraded by Raymond James to “Market Perform” (MHK)
Mohawk Industries (NYSE:MHK) was downgraded by Raymond James from a “strong-buy” rating to a “market perform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $160.00 target price on the stock. Raymond James’ price objective suggests a potential upside of 9.63% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Mohawk Industries from $161.00 to $171.00 in a research note on Monday, January 27th. They now have an “overweight” rating on the stock. Separately, analysts at ISI Group initiated coverage on shares of Mohawk Industries in a research note on Monday, January 27th. They set a “strong-buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating in a research note on Monday, January 27th. They now have a $170.00 price target on the stock, up previously from $150.00. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $161.09.
Mohawk Industries (NYSE:MHK) traded down 1.73% during mid-day trading on Friday, hitting $143.41. The stock had a trading volume of 2,395,984 shares. Mohawk Industries has a 1-year low of $101.26 and a 1-year high of $155.48. The stock has a 50-day moving average of $145.2 and a 200-day moving average of $135.6. The company has a market cap of $10.415 billion and a price-to-earnings ratio of 32.51.
Mohawk Industries (NYSE:MHK) last released its earnings data on Thursday, February 20th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.04. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Analysts expect that Mohawk Industries will post $8.24 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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