Mohawk Industries (NYSE:MHK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Mohawk's shares have gained 36.1% in the past year, almost on par with its industry gain. Also, earnings estimates  for 2018 have increased over the last 30 days reflecting an upside potential of the stock. Further, the company’s improved pricing will continue to benefit margins. It is to be noted that, Mohawk continues to enjoys a leading position in the home furnishings industry and has completed four strategic acquisitions this year that broadened its product portfolio. The company is looking to explore investment options for expansion and acquisitions to widen its geographic presence and product offerings. However, higher costs and currency headwinds continue to impede growth.”

MHK has been the subject of several other reports. Northcoast Research began coverage on Mohawk Industries in a report on Thursday, October 5th. They issued a “buy” rating and a $295.00 price objective for the company. Instinet reaffirmed a “buy” rating and set a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Jefferies Group began coverage on Mohawk Industries in a report on Tuesday, December 12th. They set a “buy” rating and a $330.00 target price for the company. Barclays upped their target price on Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $292.83.

Shares of Mohawk Industries (NYSE MHK) traded up $3.31 during trading on Thursday, reaching $277.80. The company had a trading volume of 438,800 shares, compared to its average volume of 559,273. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. The company has a market capitalization of $20,650.00, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.25 and a beta of 1.37. Mohawk Industries has a 1 year low of $201.53 and a 1 year high of $286.85.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. Mohawk Industries’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.50 earnings per share. equities analysts anticipate that Mohawk Industries will post 13.52 EPS for the current year.

Several large investors have recently bought and sold shares of MHK. Wilbanks Smith & Thomas Asset Management LLC lifted its position in shares of Mohawk Industries by 0.7% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after acquiring an additional 11 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Mohawk Industries by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,614 shares of the company’s stock valued at $722,000 after buying an additional 14 shares during the period. BTC Capital Management Inc. lifted its stake in shares of Mohawk Industries by 1.1% in the first quarter. BTC Capital Management Inc. now owns 1,265 shares of the company’s stock valued at $289,000 after buying an additional 14 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Mohawk Industries by 0.7% in the second quarter. LS Investment Advisors LLC now owns 2,301 shares of the company’s stock valued at $437,000 after buying an additional 15 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in shares of Mohawk Industries by 0.7% in the second quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock valued at $492,000 after buying an additional 15 shares during the period. 76.55% of the stock is owned by institutional investors.

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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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