Mohawk Industries Inc. (MHK) Shares Gap Up to $189.20
Shares of Mohawk Industries Inc. (NYSE:MHK) gapped up prior to trading on Friday . The stock had previously closed at $188.01, but opened at $189.20. Mohawk Industries shares last traded at $194.48, with a volume of 209,642 shares.
A number of analysts have weighed in on the company. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Robert W. Baird reaffirmed a “buy” rating on shares of Mohawk Industries in a research report on Sunday, May 8th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Mohawk Industries in a research report on Wednesday. JPMorgan Chase & Co. cut Mohawk Industries from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $205.00 to $215.00 in a research report on Tuesday, March 15th. They noted that the move was a valuation call. Finally, MKM Partners began coverage on Mohawk Industries in a research report on Tuesday, April 12th. They issued a “buy” rating and a $244.00 price target for the company. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $218.75.
The stock’s market cap is $14.39 billion. The stock’s 50-day moving average is $193.50 and its 200 day moving average is $185.06.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, May 5th. The company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.06. The company earned $2.17 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business earned $1.70 EPS. Mohawk Industries’s revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Mohawk Industries Inc. will post $12.23 EPS for the current fiscal year.
In other news, insider John C. Turner, Jr. sold 1,511 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $195.79, for a total value of $295,838.69. Following the completion of the transaction, the insider now owns 19,985 shares in the company, valued at approximately $3,912,863.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank H. Boykin sold 3,133 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $200.00, for a total value of $626,600.00. Following the completion of the transaction, the chief financial officer now owns 28,478 shares of the company’s stock, valued at approximately $5,695,600. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in MHK. Dimensional Fund Advisors LP boosted its position in shares of Mohawk Industries by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 667,209 shares of the company’s stock valued at $126,365,000 after buying an additional 8,323 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Mohawk Industries by 42.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 83,807 shares of the company’s stock valued at $15,872,000 after buying an additional 25,025 shares during the last quarter. Rail Splitter Capital Management LLC bought a new position in shares of Mohawk Industries during the fourth quarter valued at $11,424,000. Stephens Inc. AR boosted its position in shares of Mohawk Industries by 3.2% in the fourth quarter. Stephens Inc. AR now owns 25,270 shares of the company’s stock valued at $4,786,000 after buying an additional 773 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Mohawk Industries by 46.5% in the fourth quarter. Advisors Asset Management Inc. now owns 59,917 shares of the company’s stock valued at $11,348,000 after buying an additional 19,031 shares during the last quarter.
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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