Mohawk Industries, Inc. (NYSE:MHK) – Equities research analysts at SunTrust Banks dropped their FY2017 earnings estimates for Mohawk Industries in a research report issued on Monday. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings per share of $13.52 for the year, down from their previous estimate of $13.57.

A number of other equities research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $291.00 price target on shares of Mohawk Industries in a research note on Monday, July 31st. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 4th. Finally, Cleveland Research cut shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research report on Friday, September 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $268.09.

TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/04/suntrust-banks-comments-on-mohawk-industries-inc-s-fy2017-earnings-mhk.html.

Mohawk Industries (NYSE MHK) opened at 252.02 on Wednesday. The firm’s market capitalization is $18.73 billion. Mohawk Industries has a 12 month low of $175.52 and a 12 month high of $259.91. The stock’s 50 day moving average is $251.18 and its 200-day moving average is $241.61.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis.

In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the transaction, the vice president now owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC raised its position in Mohawk Industries by 5,675.0% in the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares during the period. First Personal Financial Services increased its stake in shares of Mohawk Industries by 6.6% during the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after purchasing an additional 35 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Mohawk Industries by 18.6% during the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after purchasing an additional 98 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Mohawk Industries during the 2nd quarter worth approximately $160,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $179,000. Institutional investors own 76.93% of the company’s stock.

Mohawk Industries Company Profile

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.

Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

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.