Northcoast Research initiated coverage on shares of Mohawk Industries, Inc. (NYSE:MHK) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.

Several other brokerages also recently issued reports on MHK. MKM Partners reissued a “buy” rating and issued a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Instinet reissued a “buy” rating and issued a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Nomura reissued a “buy” rating and issued a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. Finally, Credit Suisse Group started coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $268.09.

Shares of Mohawk Industries (MHK) opened at 256.91 on Thursday. The company’s market cap is $19.10 billion. The stock has a 50 day moving average price of $251.38 and a 200-day moving average price of $241.72. Mohawk Industries has a 1-year low of $175.52 and a 1-year high of $259.91.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm earned $3.47 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Mohawk Industries will post $13.50 earnings per share for the current year.

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In other news, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of MHK. Sun Life Financial INC raised its stake in shares of Mohawk Industries by 5,675.0% during the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after acquiring an additional 454 shares in the last quarter. First Personal Financial Services raised its stake in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after acquiring an additional 35 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Mohawk Industries by 18.6% during the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after acquiring an additional 98 shares in the last quarter. First Manhattan Co. bought a new stake in shares of Mohawk Industries during the second quarter valued at approximately $160,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Mohawk Industries during the first quarter valued at approximately $179,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

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.

The Fly

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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