Mohawk Industries, Inc. (MHK) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Mohawk Industries, Inc. (NYSE:MHK) from a buy rating to a strong-buy rating in a report published on Wednesday.

A number of other research firms have also recently commented on MHK. Instinet reiterated a buy rating and set a $280.00 price target on shares of Mohawk Industries in a report on Friday, April 14th. Royal Bank Of Canada reiterated a buy rating and set a $267.00 price target on shares of Mohawk Industries in a report on Monday, May 1st. Zacks Investment Research upgraded Mohawk Industries from a hold rating to a buy rating and set a $268.00 price target for the company in a report on Tuesday, July 4th. MKM Partners reiterated a buy rating and set a $255.00 price target on shares of Mohawk Industries in a report on Tuesday, April 18th. Finally, Barclays PLC lifted their price target on Mohawk Industries from $251.00 to $272.00 and gave the stock an overweight rating in a report on Monday, March 20th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $260.67.

Shares of Mohawk Industries (NYSE MHK) opened at 248.19 on Wednesday. Mohawk Industries has a 1-year low of $175.52 and a 1-year high of $249.61. The stock’s 50 day moving average price is $238.46 and its 200 day moving average price is $225.09. The company’s market cap is $18.45 billion.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 27th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.01. Mohawk Industries had a return on equity of 16.88% and a net margin of 10.65%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company posted $2.38 earnings per share. Mohawk Industries’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries will post $13.36 earnings per share for the current year.

WARNING: “Mohawk Industries, Inc. (MHK) Lifted to “Strong-Buy” at BidaskClub” was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.com-unik.info/2017/07/18/mohawk-industries-inc-mhk-lifted-to-strong-buy-at-bidaskclub.html.

In other news, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $238.27, for a total value of $238,270.00. Following the completion of the sale, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $240.62, for a total transaction of $1,491,844.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,587 shares of company stock valued at $1,823,768. 17.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Washington Trust Bank increased its position in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock valued at $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc increased its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $179,000. Bahl & Gaynor Inc. purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $202,000. Finally, King Luther Capital Management Corp purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 77.05% of the company’s stock.

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.

Analyst Recommendations for Mohawk Industries (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