Jefferies Group assumed coverage on shares of Mohawk Industries (NYSE:MHK) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $330.00 price target on the stock. Jefferies Group’s price objective would indicate a potential upside of 20.13% from the company’s previous close. Jefferies Group also issued estimates for Mohawk Industries’ Q4 2017 earnings at $3.32 EPS, FY2017 earnings at $13.52 EPS, Q1 2018 earnings at $2.96 EPS, Q2 2018 earnings at $3.96 EPS, Q3 2018 earnings at $4.18 EPS, Q4 2018 earnings at $3.72 EPS, FY2018 earnings at $14.81 EPS and FY2019 earnings at $16.88 EPS.
Several other research analysts have also weighed in on MHK. ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Cleveland Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research note on Friday, September 22nd. Nomura reaffirmed a “buy” rating and set a $288.00 target price (up previously from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. Instinet reaffirmed a “buy” rating and set a $288.00 target price (up previously from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Finally, Northcoast Research initiated coverage on shares of Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $289.33.
Shares of Mohawk Industries (NYSE MHK) traded up $1.11 during mid-day trading on Tuesday, reaching $274.71. 686,413 shares of the company’s stock traded hands, compared to its average volume of 441,565. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $20,420.00, a price-to-earnings ratio of 20.42, a PEG ratio of 2.49 and a beta of 1.37. Mohawk Industries has a one year low of $196.50 and a one year high of $286.85.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Mohawk Industries by 10.4% in the third quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock valued at $26,021,000 after purchasing an additional 9,896 shares during the period. AXA boosted its stake in shares of Mohawk Industries by 16.7% in the third quarter. AXA now owns 29,900 shares of the company’s stock valued at $7,400,000 after purchasing an additional 4,287 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Mohawk Industries in the third quarter valued at approximately $4,545,000. Public Employees Retirement System of Ohio boosted its stake in shares of Mohawk Industries by 6.5% in the third quarter. Public Employees Retirement System of Ohio now owns 126,396 shares of the company’s stock valued at $31,284,000 after purchasing an additional 7,688 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Mohawk Industries in the third quarter valued at approximately $1,245,000. 76.59% of the stock is owned by institutional investors and hedge funds.
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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.
