Mohawk Industries, Inc. (NYSE:MHK) had its price target lifted by equities researchers at Barclays PLC from $285.00 to $301.00 in a research note issued to investors on Monday, October 30th. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 10.58% from the company’s previous close.
MHK has been the topic of several other research reports. MKM Partners reiterated a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Northcoast Research initiated coverage on shares of Mohawk Industries in a report on Thursday, October 5th. They issued a “buy” rating and a $295.00 price objective on the stock. Instinet restated a “buy” rating and issued a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $270.00 price objective on shares of Mohawk Industries in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $281.42.
Mohawk Industries (NYSE MHK) opened at $272.20 on Monday. The company has a market cap of $20,229.90, a PE ratio of 20.24, a PEG ratio of 2.46 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries has a one year low of $189.44 and a one year high of $272.46.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm posted $3.50 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. sell-side analysts predict that Mohawk Industries will post 13.52 EPS for the current year.
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In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.00% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in MHK. KCG Holdings Inc. bought a new stake in shares of Mohawk Industries during the 1st quarter valued at $252,000. Highbridge Capital Management LLC purchased a new position in Mohawk Industries during the first quarter valued at $344,000. Credit Suisse AG grew its stake in Mohawk Industries by 11.0% during the first quarter. Credit Suisse AG now owns 96,018 shares of the company’s stock valued at $22,035,000 after acquiring an additional 9,522 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Mohawk Industries by 1.1% during the first quarter. Public Employees Retirement System of Ohio now owns 114,630 shares of the company’s stock valued at $26,306,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Mohawk Industries by 5.6% during the first quarter. Nomura Asset Management Co. Ltd. now owns 7,969 shares of the company’s stock valued at $1,829,000 after acquiring an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 76.19% 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’ 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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