Mohawk Industries, Inc. (MHK) Given Consensus Rating of “Buy” by Analysts

Shares of Mohawk Industries, Inc. (NYSE:MHK) have been given a consensus rating of “Buy” by the fifteen research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $296.00.

A number of research firms recently issued reports on MHK. Credit Suisse Group restated an “outperform” rating and set a $310.00 price objective (up previously from $303.00) on shares of Mohawk Industries in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Nomura restated a “buy” rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. JPMorgan Chase & Co. raised their price objective on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Instinet restated a “buy” rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th.

Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in shares of Mohawk Industries by 7.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 19,753 shares of the company’s stock valued at $5,449,000 after acquiring an additional 1,387 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Mohawk Industries by 64.4% in the fourth quarter. State of Alaska Department of Revenue now owns 9,956 shares of the company’s stock valued at $2,744,000 after acquiring an additional 3,900 shares during the period. Oakbrook Investments LLC boosted its position in shares of Mohawk Industries by 4.2% in the fourth quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock valued at $1,253,000 after acquiring an additional 185 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Mohawk Industries by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 221,291 shares of the company’s stock valued at $61,055,000 after acquiring an additional 8,927 shares during the period. Finally, Creative Planning boosted its position in shares of Mohawk Industries by 7.0% in the fourth quarter. Creative Planning now owns 3,072 shares of the company’s stock valued at $848,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 76.69% of the company’s stock.

Shares of Mohawk Industries (NYSE MHK) opened at $279.56 on Tuesday. The company has a market cap of $20,780.00, a PE ratio of 21.65, a PEG ratio of 2.27 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. Mohawk Industries has a 1-year low of $206.74 and a 1-year high of $286.85.

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

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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.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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