Mohawk Industries, Inc. (MHK) Given “Buy” Rating at MKM Partners

MKM Partners restated their buy rating on shares of Mohawk Industries, Inc. (NYSE:MHK) in a research note published on Wednesday, August 2nd. The firm currently has a $286.00 target price on the stock, up from their previous target price of $255.00.

MHK has been the topic of several other research reports. BidaskClub lowered Mohawk Industries from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Royal Bank Of Canada reaffirmed a buy rating and set a $267.00 target price on shares of Mohawk Industries in a research note on Monday, May 1st. Zacks Investment Research raised Mohawk Industries from a hold rating to a buy rating and set a $268.00 target price for the company in a research note on Tuesday, July 4th. Instinet reaffirmed a buy rating and set a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. Finally, Credit Suisse Group initiated coverage on Mohawk Industries in a research note on Thursday, June 22nd. They set an outperform rating and a $274.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $266.64.

Shares of Mohawk Industries (MHK) opened at 245.43 on Wednesday. Mohawk Industries has a 1-year low of $175.52 and a 1-year high of $252.89. The firm’s 50-day moving average is $245.96 and its 200-day moving average is $234.13. The company’s market cap is $18.24 billion.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the firm posted $3.47 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Mohawk Industries will post $13.53 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.com-unik.info/2017/08/12/mohawk-industries-inc-mhk-earns-buy-rating-from-mkm-partners-updated.html.

In other news, VP Rodney David Patton sold 387 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $242.00, for a total transaction of $93,654.00. Following the completion of the transaction, the vice president now directly owns 7,061 shares in the company, valued at approximately $1,708,762. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,587 shares of company stock valued at $1,823,768. Company insiders own 17.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Washington Trust Bank raised its stake in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc raised its stake in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares in the last quarter. First Personal Financial Services raised its stake in Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after buying an additional 35 shares in the last quarter. First Manhattan Co. bought a new stake in Mohawk Industries during the second quarter worth about $160,000. Finally, Meeder Asset Management Inc. bought a new stake in Mohawk Industries during the first quarter worth about $179,000. Institutional investors own 76.31% of the company’s stock.

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)

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