Macquarie restated their outperform rating on shares of Mohawk Industries Inc. (NYSE:MHK) in a research report sent to investors on Thursday morning. They currently have a $228.00 price target on the stock.
MHK has been the subject of a number of other reports. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Mohawk Industries in a research report on Wednesday, July 6th. Zacks Investment Research cut shares of Mohawk Industries from a hold rating to a sell rating in a research report on Monday, July 25th. MKM Partners boosted their target price on shares of Mohawk Industries from $244.00 to $246.00 and gave the company a buy rating in a research report on Monday, August 8th. Credit Suisse Group AG reissued a buy rating on shares of Mohawk Industries in a research report on Tuesday, June 28th. Finally, Royal Bank Of Canada boosted their target price on shares of Mohawk Industries from $220.00 to $245.00 and gave the company an outperform rating in a research report on Monday, August 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $225.31.
Shares of Mohawk Industries (NYSE:MHK) opened at 202.87 on Thursday. The company’s market capitalization is $15.04 billion. Mohawk Industries has a 52-week low of $148.56 and a 52-week high of $216.58. The firm has a 50-day moving average of $209.32 and a 200 day moving average of $198.90.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, August 4th. The company reported $3.47 EPS for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.11. Mohawk Industries had a net margin of 9.65% and a return on equity of 17.22%. The firm earned $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business posted $2.69 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Mohawk Industries will post $12.46 EPS for the current year.
In other news, Director Cock Frans Georges De sold 3,734 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $210.00, for a total transaction of $784,140.00. Following the sale, the director now directly owns 6,266 shares in the company, valued at $1,315,860. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $212.07, for a total value of $1,908,630.00. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Mohawk Industries by 612.2% in the second quarter. Tower Research Capital LLC TRC now owns 641 shares of the company’s stock valued at $122,000 after buying an additional 551 shares during the period. Checchi Capital Advisers LLC boosted its stake in Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock valued at $160,000 after buying an additional 18 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Mohawk Industries during the second quarter valued at $166,000. Mizuho Asset Management Co. Ltd. boosted its stake in Mohawk Industries by 96.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 874 shares of the company’s stock valued at $166,000 after buying an additional 428 shares during the period. Finally, IFP Advisors Inc boosted its stake in Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock valued at $196,000 after buying an additional 19 shares during the period. Institutional investors own 78.64% of the company’s stock.
About Mohawk Industries
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.
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.