Mohawk Industries Inc. (MHK) Receives Consensus Rating of “Buy” from Brokerages
Mohawk Industries Inc. (NYSE:MHK) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the stock. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $224.82.
Several equities research analysts have recently weighed in on MHK shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Mohawk Industries in a report on Tuesday, June 28th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Mohawk Industries in a report on Wednesday, July 6th. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Royal Bank Of Canada increased their price objective on Mohawk Industries from $220.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Finally, MKM Partners increased their price objective on Mohawk Industries from $244.00 to $246.00 and gave the stock a “buy” rating in a research note on Monday, August 8th.
Mohawk Industries (NYSE:MHK) traded up 1.97% on Wednesday, hitting $195.77. The stock had a trading volume of 299,144 shares. The company has a 50-day moving average price of $205.77 and a 200 day moving average price of $199.70. Mohawk Industries has a 52-week low of $148.56 and a 52-week high of $216.58. The firm’s market cap is $14.52 billion.
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Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.36 by $0.11. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business posted $2.69 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts forecast that Mohawk Industries will post $12.46 earnings per share for the current fiscal year.
In other news, insider Suzanne L. Helen sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $212.07, for a total value of $1,908,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 9,300 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $214.00, for a total value of $1,990,200.00. The disclosure for this sale can be found here. 17.10% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Mohawk Industries by 0.7% in the second quarter. LS Investment Advisors LLC now owns 2,301 shares of the company’s stock worth $437,000 after buying an additional 15 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock worth $160,000 after buying an additional 18 shares during the period. Fifth Third Bancorp raised its position in shares of Mohawk Industries by 0.7% in the second quarter. Fifth Third Bancorp now owns 3,158 shares of the company’s stock worth $599,000 after buying an additional 21 shares during the period. IBM Retirement Fund raised its position in shares of Mohawk Industries by 0.3% in the second quarter. IBM Retirement Fund now owns 7,307 shares of the company’s stock worth $1,448,000 after buying an additional 25 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Mohawk Industries by 1.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,587 shares of the company’s stock worth $271,000 after buying an additional 30 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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