Mohawk Industries (NYSE:MHK – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $2.68-2.78 for the period, compared to the consensus EPS estimate of $2.68. Mohawk Industries also updated its Q2 2024 guidance to 2.680-2.780 EPS.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a hold rating to a buy rating and lifted their price objective for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. The Goldman Sachs Group boosted their target price on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, January 11th. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a research report on Saturday, February 17th. Barclays boosted their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. Finally, Royal Bank of Canada boosted their target price on Mohawk Industries from $101.00 to $106.00 and gave the stock a sector perform rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $118.75.
View Our Latest Stock Report on Mohawk Industries
Mohawk Industries Stock Up 4.7 %
Mohawk Industries (NYSE:MHK – Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a positive return on equity of 7.71% and a negative net margin of 3.77%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 EPS. As a group, sell-side analysts forecast that Mohawk Industries will post 9.56 EPS for the current year.
Insider Transactions at Mohawk Industries
In other news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.
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