Mohawk Industries (NYSE:MHK) had its price target cut by Nomura from $260.00 to $185.00 in a research report released on Friday. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on MHK. Zacks Investment Research lowered shares of Mohawk Industries from a hold rating to a sell rating in a report on Tuesday, July 24th. ValuEngine lowered shares of Mohawk Industries from a sell rating to a strong sell rating in a report on Thursday, July 26th. SunTrust Banks restated a buy rating and issued a $270.00 target price on shares of Mohawk Industries in a report on Friday, July 27th. Raymond James lowered shares of Mohawk Industries from a strong-buy rating to an outperform rating in a report on Friday, July 27th. Finally, Stifel Nicolaus dropped their target price on shares of Mohawk Industries from $290.00 to $235.00 and set a buy rating on the stock in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $214.53.

Shares of Mohawk Industries stock opened at $115.03 on Friday. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. Mohawk Industries has a twelve month low of $113.45 and a twelve month high of $286.85. The firm has a market capitalization of $8.58 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.58 by ($0.29). The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Mohawk Industries had a net margin of 8.81% and a return on equity of 13.64%. As a group, sell-side analysts predict that Mohawk Industries will post 13.62 earnings per share for the current fiscal year.

Mohawk Industries declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other news, insider Bernard Thiers sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the insider now owns 40,156 shares in the company, valued at $7,629,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $186.74, for a total transaction of $2,502,316.00. Following the transaction, the chairman now owns 45,187 shares in the company, valued at approximately $8,438,220.38. The disclosure for this sale can be found here. Insiders have bought 60,000 shares of company stock worth $11,016,250 in the last quarter. Company insiders own 16.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MHK. Epoch Investment Partners Inc. acquired a new position in shares of Mohawk Industries during the second quarter valued at about $171,834,000. Long Pond Capital LP acquired a new position in shares of Mohawk Industries during the second quarter valued at about $158,411,000. Select Equity Group L.P. raised its holdings in shares of Mohawk Industries by 20.6% during the second quarter. Select Equity Group L.P. now owns 1,959,024 shares of the company’s stock valued at $419,760,000 after purchasing an additional 334,869 shares during the period. Calamos Advisors LLC raised its holdings in shares of Mohawk Industries by 324.6% during the second quarter. Calamos Advisors LLC now owns 294,082 shares of the company’s stock valued at $63,013,000 after purchasing an additional 224,823 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Mohawk Industries by 23.1% during the second quarter. Wells Fargo & Company MN now owns 1,096,430 shares of the company’s stock valued at $234,932,000 after purchasing an additional 206,062 shares during the period. Hedge funds and other institutional investors own 81.42% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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