Mohawk Industries, Inc. (MHK) Price Target Raised to $301.00 at Barclays PLC
Mohawk Industries, Inc. (NYSE:MHK) had its price target raised by Barclays PLC from $285.00 to $301.00 in a report released on Monday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 14.47% from the stock’s previous close.
A number of other analysts have also weighed in on MHK. J P Morgan Chase & Co upped their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday. MKM Partners reaffirmed a “buy” rating and set a $286.00 target price (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a report on Sunday. Nomura set a $300.00 target price on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Friday. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $275.00 target price on shares of Mohawk Industries in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and an average target price of $279.15.
Mohawk Industries (NYSE MHK) traded down 0.52% during mid-day trading on Monday, hitting $262.96. 837,249 shares of the company traded hands. The firm’s market capitalization is $19.55 billion. Mohawk Industries has a one year low of $175.52 and a one year high of $268.46. The firm has a 50 day moving average of $255.88 and a 200 day moving average of $245.41.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. Mohawk Industries’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 EPS. Equities research analysts expect that Mohawk Industries will post $13.49 earnings per share for the current fiscal year.
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In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the transaction, the vice president now directly owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Clarkston Capital Partners LLC bought a new position in shares of Mohawk Industries in the 3rd quarter worth $248,000. Crossmark Global Holdings Inc. bought a new position in shares of Mohawk Industries in the 3rd quarter worth $1,341,000. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Mohawk Industries by 70.1% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,464 shares of the company’s stock worth $2,094,000 after buying an additional 3,488 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Mohawk Industries by 2.1% in the 3rd quarter. Aperio Group LLC now owns 32,223 shares of the company’s stock worth $7,976,000 after buying an additional 677 shares during the last quarter. Finally, Rathbone Brothers plc increased its holdings in shares of Mohawk Industries by 5.3% in the 3rd quarter. Rathbone Brothers plc now owns 11,671 shares of the company’s stock worth $2,889,000 after buying an additional 583 shares during the last quarter. 76.91% of the stock is currently 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’ 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.
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