Mohawk Industries (MHK) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research note published on Wednesday.

A number of other equities research analysts also recently commented on MHK. Zacks Investment Research downgraded Mohawk Industries from a hold rating to a sell rating in a report on Tuesday, October 10th. SunTrust Banks reissued a buy rating and issued a $275.00 target price on shares of Mohawk Industries in a research note on Friday, October 27th. Nomura set a $300.00 target price on Mohawk Industries and gave the company a buy rating in a research note on Friday, October 27th. Stifel Nicolaus reissued a buy rating and issued a $270.00 target price on shares of Mohawk Industries in a research note on Sunday, October 29th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $295.25.

Shares of Mohawk Industries (NYSE MHK) opened at $249.46 on Wednesday. The company has a market capitalization of $19,068.29, a PE ratio of 19.22, a P/E/G ratio of 2.10 and a beta of 1.26. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. Mohawk Industries has a fifty-two week low of $209.90 and a fifty-two week high of $286.85.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 8th. The company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.10. The business 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 15.82% and a net margin of 10.24%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.26 earnings per share. equities analysts expect that Mohawk Industries will post 14.98 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in shares of Mohawk Industries by 399.2% during the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after buying an additional 27,503 shares during the period. Pensionfund DSM Netherlands acquired a new position in shares of Mohawk Industries during the fourth quarter worth about $3,035,000. Quantbot Technologies LP acquired a new position in shares of Mohawk Industries during the third quarter worth about $5,281,000. Parametric Portfolio Associates LLC boosted its position in shares of Mohawk Industries by 10.4% during the third quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock worth $26,021,000 after buying an additional 9,896 shares during the period. Finally, National Pension Service boosted its position in shares of Mohawk Industries by 2.5% during the fourth quarter. National Pension Service now owns 69,142 shares of the company’s stock worth $19,076,000 after buying an additional 1,672 shares during the period. 76.63% of the stock is owned by hedge funds and other 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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