Mohawk Industries, Inc. (MHK) Given Buy Rating at Instinet

Instinet reissued their buy rating on shares of Mohawk Industries, Inc. (NYSE:MHK) in a research note published on Friday, April 14th. They currently have a $280.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Nomura initiated coverage on Mohawk Industries in a research note on Wednesday, April 12th. They set a buy rating and a $280.00 target price on the stock. Barclays PLC set a $251.00 price target on Mohawk Industries and gave the company a buy rating in a report on Tuesday, February 14th. Zacks Investment Research upgraded Mohawk Industries from a hold rating to a buy rating and set a $229.00 price target for the company in a report on Monday, January 9th. Stifel Nicolaus boosted their price target on Mohawk Industries from $230.00 to $255.00 and gave the company a buy rating in a report on Monday, February 13th. Finally, Macquarie started coverage on Mohawk Industries in a report on Friday, December 16th. They issued an outperform rating and a $235.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Mohawk Industries presently has an average rating of Buy and an average price target of $250.00.

Mohawk Industries (NYSE:MHK) traded up 0.64% during midday trading on Friday, hitting $229.95. The stock had a trading volume of 234,851 shares. The company’s market cap is $17.09 billion. The firm’s 50-day moving average price is $232.07 and its 200 day moving average price is $215.69. Mohawk Industries has a 12 month low of $175.52 and a 12 month high of $241.02.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 27th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.01. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Mohawk Industries had a return on equity of 17.10% and a net margin of 10.39%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. On average, analysts expect that Mohawk Industries will post $13.32 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/05/19/mohawk-industries-inc-mhk-rating-reiterated-by-instinet-updated-updated-updated.html.

In related news, insider John C. Turner, Jr. sold 2,775 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $224.68, for a total value of $623,487.00. Following the transaction, the insider now directly owns 12,505 shares of the company’s stock, valued at approximately $2,809,623.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Rodney David Patton sold 500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $231.75, for a total transaction of $115,875.00. Following the completion of the transaction, the vice president now directly owns 7,448 shares in the company, valued at $1,726,074. The disclosure for this sale can be found here. Insiders sold a total of 37,440 shares of company stock worth $8,591,718 over the last ninety days. 17.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares during the period. Norges Bank purchased a new stake in shares of Mohawk Industries during the fourth quarter worth about $120,281,000. Glenview Capital Management LLC purchased a new stake in shares of Mohawk Industries during the first quarter worth about $82,361,000. Morgan Stanley increased its stake in shares of Mohawk Industries by 159.5% in the first quarter. Morgan Stanley now owns 353,581 shares of the company’s stock worth $81,141,000 after buying an additional 217,330 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:MHK

What are top analysts saying about Mohawk Industries Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Mohawk Industries Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit