Research analysts at Wells Fargo & Co. assumed coverage on shares of Mohawk Industries Inc. (NYSE:MHK) in a research note issued to investors on Wednesday. The firm set a “market perform” rating on the stock.
A number of other equities analysts have also recently weighed in on the company. Bank of America Corp. assumed coverage on Mohawk Industries in a report on Friday, September 23rd. They issued a “neutral” rating and a $235.00 price target for the company. Macquarie reaffirmed an “outperform” rating and issued a $228.00 price target on shares of Mohawk Industries in a report on Thursday, September 22nd. RBC Capital Markets reaffirmed an “outperform” rating and issued a $245.00 price target (up previously from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. Gabelli assumed coverage on Mohawk Industries in a report on Tuesday, August 9th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 price target for the company in a report on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $225.31.
Mohawk Industries (NYSE:MHK) opened at 198.86 on Wednesday. The stock’s market cap is $14.75 billion. Mohawk Industries has a one year low of $148.56 and a one year high of $216.58. The stock has a 50 day moving average price of $208.63 and a 200-day moving average price of $198.92.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, August 4th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.36 by $0.11. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year. Equities research analysts expect that Mohawk Industries will post $12.46 earnings per share for the current fiscal year.
In other news, insider Suzanne L. Helen sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $212.07, for a total transaction of $1,908,630.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cock Frans Georges De sold 3,734 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $210.00, for a total value of $784,140.00. Following the transaction, the director now owns 6,266 shares of the company’s stock, valued at $1,315,860. The disclosure for this sale can be found here. 17.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Tower Research Capital LLC TRC raised its position 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 in the last quarter. Checchi Capital Advisers LLC raised its position 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Mohawk Industries during the second quarter valued at approximately $166,000. Mizuho Asset Management Co. Ltd. raised its position 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 in the last quarter. Finally, IFP Advisors Inc raised its position 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 in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.
Mohawk Industries Company Profile
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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