Mohawk Industries, Inc. (MHK) Receives Consensus Recommendation of “Buy” from Brokerages
Mohawk Industries, Inc. (NYSE:MHK) has received a consensus rating of “Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $280.08.
A number of equities research analysts recently weighed in on MHK shares. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Cleveland Research downgraded Mohawk Industries from a “buy” rating to a “neutral” rating in a research report on Friday, September 22nd. BidaskClub raised Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Northcoast Research started coverage on Mohawk Industries in a research report on Thursday, October 5th. They set a “buy” rating and a $295.00 target price on the stock.
Shares of Mohawk Industries (NYSE MHK) opened at $263.48 on Thursday. Mohawk Industries has a 1 year low of $189.44 and a 1 year high of $268.46. The firm has a market capitalization of $19,590.00, a PE ratio of 19.38, a P/E/G ratio of 2.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $3.50 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. analysts anticipate that Mohawk Industries will post 13.52 EPS for the current year.
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 value of $33,808.86. Following the completion of the transaction, the vice president now owns 6,924 shares in the company, valued at $1,708,704.72. The transaction was disclosed in a 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 completion of the transaction, the chairman now 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.
Large investors have recently bought and sold shares of the company. Sun Life Financial INC raised its stake in shares of Mohawk Industries by 5,675.0% in 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 during the last quarter. First Personal Financial Services raised its stake in shares of Mohawk Industries by 6.6% in 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 during the last quarter. IFP Advisors Inc raised its stake in shares of Mohawk Industries by 18.6% in 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 during the last quarter. First Manhattan Co. bought a new position in shares of Mohawk Industries in the second quarter valued at approximately $160,000. Finally, Bridgewater Wealth & Financial Management LLC bought a new position in shares of Mohawk Industries in the second quarter valued at approximately $203,000. Institutional investors own 76.85% of the company’s stock.
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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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