Brokerages Set Mohawk Industries, Inc. (NYSE:MHK) PT at $262.67
Mohawk Industries, Inc. (NYSE:MHK) has earned a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $265.00.
MHK has been the subject of a number of research analyst reports. BidaskClub cut shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a report on Monday, May 1st. MKM Partners reissued a “buy” rating and set a $255.00 target price on shares of Mohawk Industries in a report on Tuesday, April 18th. 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 report on Tuesday, July 4th. Finally, Instinet reissued a “buy” rating and set a $280.00 target price on shares of Mohawk Industries in a report on Friday, April 14th.
In related news, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rodney David Patton sold 387 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the transaction, the vice president now directly owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,587 shares of company stock valued at $1,823,768. 17.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC bought a new position in Mohawk Industries during the second quarter worth approximately $40,823,000. BB&T Securities LLC increased its position in shares of Mohawk Industries by 1.4% in the second quarter. BB&T Securities LLC now owns 11,245 shares of the company’s stock valued at $2,717,000 after buying an additional 155 shares during the last quarter. KBC Group NV increased its position in shares of Mohawk Industries by 36.2% in the second quarter. KBC Group NV now owns 16,809 shares of the company’s stock valued at $4,062,000 after buying an additional 4,464 shares during the last quarter. First Personal Financial Services increased its position in shares of Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after buying an additional 35 shares during the last quarter. Finally, Bridgewater Wealth & Financial Management LLC acquired a new position in shares of Mohawk Industries during the second quarter valued at approximately $203,000. 77.03% of the stock is owned by institutional investors and hedge funds.
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Mohawk Industries (MHK) traded up 0.12% during trading on Tuesday, reaching $251.29. 183,464 shares of the company traded hands. Mohawk Industries has a 12 month low of $175.52 and a 12 month high of $252.23. The company’s 50-day moving average is $244.51 and its 200 day moving average is $232.21. The company’s market cap is $18.68 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 Zacks’ consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the business posted $3.47 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Mohawk Industries will post $13.52 earnings per share for the current year.
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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