Mohawk Industries (MHK) Upgraded at Longbow Research

Mohawk Industries (NYSE:MHK) was upgraded by investment analysts at Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat reports.

MHK has been the subject of several other research reports. Barclays boosted their target price on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group reissued an “outperform” rating and set a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Monday, January 8th. Finally, Nomura set a $300.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Mohawk Industries presently has a consensus rating of “Buy” and a consensus target price of $295.62.

Shares of Mohawk Industries (NYSE MHK) traded up $5.09 during midday trading on Monday, reaching $254.55. The company’s stock had a trading volume of 1,524,019 shares, compared to its average volume of 677,145. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 1.53. The firm has a market capitalization of $18,920.00, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. Mohawk Industries has a 12-month low of $209.90 and a 12-month high of $286.85.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 earnings per share. equities research analysts forecast that Mohawk Industries will post 14.98 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in Mohawk Industries by 399.2% during the 2nd quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after purchasing an additional 27,503 shares during the period. Pensionfund DSM Netherlands acquired a new stake in Mohawk Industries during the 4th quarter valued at approximately $3,035,000. Quantbot Technologies LP acquired a new stake in Mohawk Industries during the 3rd quarter valued at approximately $5,281,000. Parametric Portfolio Associates LLC increased its position in Mohawk Industries by 10.4% during the 3rd 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. Finally, National Pension Service increased its position in Mohawk Industries by 2.5% during the 4th quarter. National Pension Service now owns 69,142 shares of the company’s stock valued at $19,076,000 after purchasing an additional 1,672 shares during the period. 76.51% of the stock is owned by institutional investors.

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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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