Mohawk Industries, Inc. (NYSE:MHK) has been assigned a consensus rating of “Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $266.50.

A number of analysts have weighed in on MHK shares. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and set a $291.00 price target on shares of Mohawk Industries in a report on Monday, July 31st. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 4th. Finally, Credit Suisse Group started coverage on Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target for the company.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Rodney David Patton sold 137 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were 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 of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MHK. Canada Pension Plan Investment Board grew its stake in shares of Mohawk Industries by 62.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,333 shares of the company’s stock valued at $2,142,000 after buying an additional 3,605 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Mohawk Industries by 7.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 176,151 shares of the company’s stock valued at $40,425,000 after buying an additional 12,139 shares during the period. State of Tennessee Treasury Department grew its stake in shares of Mohawk Industries by 1.8% in the 1st quarter. State of Tennessee Treasury Department now owns 51,991 shares of the company’s stock valued at $11,932,000 after buying an additional 898 shares during the period. State of Wisconsin Investment Board grew its stake in shares of Mohawk Industries by 24.0% in the 1st quarter. State of Wisconsin Investment Board now owns 41,860 shares of the company’s stock valued at $9,606,000 after buying an additional 8,112 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Mohawk Industries by 7.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 7,484 shares of the company’s stock valued at $1,718,000 after buying an additional 487 shares during the period. Institutional investors own 76.93% of the company’s stock.

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Mohawk Industries (NYSE MHK) opened at 254.45 on Wednesday. The company’s market capitalization is $18.92 billion. Mohawk Industries has a 12-month low of $175.52 and a 12-month high of $259.91. The firm’s 50-day moving average price is $251.35 and its 200 day moving average price is $240.22.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. Mohawk Industries’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 earnings per share. On average, analysts expect 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.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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