Mohawk Industries, Inc. (NYSE:MHK) had its price objective hoisted by Barclays PLC from $285.00 to $301.00 in a research report sent to investors on Monday morning. They currently have an overweight rating on the stock.
MHK has been the subject of several other reports. ValuEngine raised Mohawk Industries from a hold rating to a buy rating in a research note on Friday, September 8th. Zacks Investment Research downgraded Mohawk Industries from a hold rating to a sell rating in a research note on Tuesday, October 10th. Northcoast Research started coverage on Mohawk Industries in a research note on Thursday, October 5th. They set a buy rating and a $295.00 price objective for the company. BidaskClub downgraded Mohawk Industries from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Finally, Nomura reaffirmed a buy rating and set a $288.00 price objective (up from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $279.15.
The firm has a market capitalization of $19.16 billion, a P/E ratio of 19.17 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data 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. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 EPS. sell-side analysts anticipate that Mohawk Industries will post 13.49 earnings per share for the current fiscal year.
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In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the sale, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Sun Life Financial INC grew its holdings in shares of Mohawk Industries by 5,675.0% in the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares during the period. First Personal Financial Services grew its holdings in shares of Mohawk Industries by 6.6% in the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after acquiring an additional 35 shares during the period. IFP Advisors Inc grew its holdings in shares of Mohawk Industries by 18.6% in the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after acquiring an additional 98 shares during the period. First Manhattan Co. acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $160,000. Finally, Bridgewater Wealth & Financial Management LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 76.91% 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.
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